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Sagot :
Answer: $969
Explanation:
Since 5% of the value of the gift card sold will be unclaimed, the amount claimed will be:
= $25500 - (5% × $25500)
= $25500 -(0.05 × $25500)
= $25500 - $1275
= $24225
We then find the percentage of the cards that have been redeemed already and this will be:
= $18360 / $24225
= 0.7579
= 76%
Therefore, breakage in revenue to be recognized will be:
= ($25500 × 5%) × 76%
= $1275 × 76%
= $1275 × 0.76
= $969
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