Answered

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Bull'sEye sells gift cards redeemable for Bull'sEye products either in-store or online. During 2018, Bull'sEye sold $2,000,000 of gift cards, and $1,800,000 of the gift cards were redeemed for products. As of December 31, 2018, $150,000 of the remaining gift cards had passed the date at which Bull'sEye concludes that the cards will never be redeemed. How much gift card revenue should Bull'sEye recognize in 2018

Sagot :

abiolataiwo2015

Answer:

$1,950,000

Explanation:

Calculation to determine How much gift card revenue should Bull'sEye recognize in 2018

Gift cards redeemed $1,800,000

Add December 31, 2018 Remaining gift $150,000

Revenue Recognized $1,950,000

($1,800,000+$150,000)

Therefore How much gift card revenue should Bull'sEye recognize in 2018 is $1,950,000

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