Option (b) is correct
We will usr the below equation to find the gift cards redeemed:
Ending deferred revenue = Beginning defereed revenue + Gift cards issued - Gift cards redeemed
Putting the given values in the above equation, we get,
$7900 = $5700 + $44000 - Gift cards redeemed
$7900 = $49700 - Gift cards redeemed
Gift cards redeemed = $49700 - $7900 = $41800
Deferred Revenue, which represents the company's obligation to honor gift cards previously issued to customers, totaled...
A company tracks its obligation to honor gift cards previously issued to customers using Deferred Revenue. This account totaled $6,200 at the beginning of the year and $8,900 at the end of the year. Customers purchased gift cards amounting to $49,000 during the year. What was the amount of gift cards redeemed (i.e., used to buy goods or services) by customers during the year? Multiple Choice $64.100 O $33,900 O O $46,300 о $51,700 $51,700
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