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chubhunter [2.5K]
3 years ago
15

GoodBuy sells gift cards redeemable for GoodBuy products either in store or online. During 2018, GoodBuy sold $960,000 of gift c

ards, and $810,000 of the gift cards were redeemed for products. As of December 31, 2018, $39,000 of the remaining gift cards had passed the date at which GoodBuy concludes that the cards will never be redeemed. How much gift card revenue should GoodBuy recognize in 2018?
Business
1 answer:
balu736 [363]3 years ago
3 0

Answer:

$849,000 gift card revenue should GoodBuy recognize in 2018

Explanation:

gift cards revenue of GoodBuy recognized in 2018

=  gift cards redeemed + remaining gift cards

= $810,000 + $39,000

= $849,000

Therefore, $849,000 gift card revenue should GoodBuy recognize in 2018

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