Georgia's Salon
the Salon Sells $50,000 of Gift Cards in May

Georgia's Salon
The salon sells $50,000 of gift cards in May Year 1. These gift cards may be used anytime before their expiration on May 31, Year 2.
-Refer to the figure Georgia's Salon.As of May 31,Year 2,all but $1,500 of the gift cards had been redeemed for salon services.Which of the following is the correct journal entry to record for the expired gift cards? a.
$\begin{array}{lc}\text { Unearned Sales Revenue } & 1,500 \\\quad \text { Accounts Payable }&&1,500 \\\end{array}$

b.
$\begin{array}{lc}\text { Unearned Sales Revenue } & 1,500 \\\quad \text { Sales Revenue }&&1,500 \\\end{array}$

c.
$\begin{array}{lc}\text { Loss on Gift Cards } &1,500\\\text { Sales Revenue }&& 1,500 \\\end{array}$

d.
$\begin{array}{lc}\text { Accounts Receivable }&1,500 \\\text { Sales Revenue } && 1,500 \\\end{array}$