Georgia's Salon
The salon sells $50,000 of gift cards in May 2013. These gift cards may be used anytime before their expiration on May 31, 2014.
-Refer to Georgia's Salon. During May 2013, $10,000 of the gift cards were redeemed for salon services. Which of the following is the correct journal entry to record the redemption of the gift cards?
A) Unearned Sales Revenue 10,000 Accounts Payable 10,000
B) Unearned Sales Revenue 10,000 Cash 10,000
C) Prepaid Sales Revenue 10,000 Sales Revenue 10,000
D) Unearned Sales Revenue 10,000 Sales Revenue 10,000
Correct Answer:
Verified
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