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In Lizzie Shoes' experience, gift cards that have not been redeemed within 12 months are not likely to be redeemed. Lizzie Shoes sold gift cards for $18,750 during August of 2013. $6,000 of cards were redeemed in September of 2013, $3,270 in October, $2,870 in November, and $2,240 in December of 2013. In 2014 an additional $1,940 of cards were redeemed in January and $575 in February. How much gift card revenue associated with the August 2013 gift card sales would Lizzie get to recognize in 2013 and 2014?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9952727

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