Use the following information for questions 34-35.
Malaya's Manicures sells $2,500 worth of gift certificates in November and December. 25% of the gift certificates are redeemed in December prior to the December 31 year end.
-The entry to record the sale of the gift certificates is
A) Dr. Cash, Cr. Gift Card Revenue
B) Dr. Gift Card Revenue, Cr. Deferred Gift Card Revenue
C) Dr. Prepaid Gift Cards, Cr. Gift Card Revenue
D) Dr. Cash, Cr. Deferred Gift Card Revenue
Correct Answer:
Verified
Q27: The following information relates to Blink &
Q29: Use the following information for questions 37-39.
Jems
Q30: Use the following information for questions 40-42.
Melman
Q32: Use the following information for questions 34-35.
Malaya's
Q33: All of the following situations contribute to
Q34: Maynard Manufacturing has a two-week payroll of
Q35: Use the following information for questions 40-42.
Melman
Q36: Which of the following statements concerning income
Q41: When the board declares dividends,the correct journal
Q47: An employee earns $1,500 a week and
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