In lizzie shoesrsquo experience gift cards that have not, Ask an Expert

Accounting

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 $18,000 during August of 2016. $4,000 of cards were redeemed in September of 2016, $3,000 in October, $2,500 in November, and $2,000 in December of 2016. In 2017 an additional $1,000 of cards were redeemed in January and $500 in February.

How much gift card revenue associated with the August 2016 gift card sales would Lizzie get to recognize in 2016 and 2017?

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91524229

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