A customer purchases $150 of goods at a Dollarama store using a $100 gift card with...
- A customer purchases $150 of goods at a Dollarama store using a $100 gift card with the remaining amount in cash. Prepare the journal entry for this transaction.
Homework Answers
The Following entry will be made for the goods Purchased by customer of $150, using a $100 gift card with remaining amount in cash.
Journal
| No | Account Title | Debit | Credit |
| Gift card liability | 100 | ||
| Cash | 50 | ||
| Sales revenue | 150 | ||
| (To record sale of goods) |
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