(Answered) Unearned revenue which represents the companys obligation

Accounting

Unearned Revenue, which represents the company's obligation to honor gift cards previously issued to customers, totaled $7,200 at the beginning of the year and $10,900 at the end of the year. Customers purchased gift cards amounting to $59,000 during the year. What was the amount of gift cards redeemed by customers during the year?

$55,300
$62,700
$77,100
$40,900

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