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Search the web.. mann University On × y D Ch.13 homework C O ezto.mheducation.com/hm.tpx nomework Question 4 (of 6) value: 700 points 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 $18,500 during August of 2016. $5,500 of cards were redeemed in September of 2016, $3,120 in October, $2,900 in November, and $2,910 in December of 2016. In 2017 an additional $1,240 of cards were redeemed in January and $875 in February How much gift card revenue associated with the August 2016 gift card sales would Lizzie get to recognize in 2016 and 2017? Year 2016 2017 Revenue References eBook & Resources Worksheet 0 Type here to search

Explanation / Answer

Gift card revenue recognized in Year 2016 (those which have been redeemed only) Sep 5500 Oct 3120 Nov 2900 Dec 2910 Revenue recognized in 2016 14430 Revenue recognized in 2017: Total Gift card sales 18500 Less: Revenue recognized in 2016 14430 Gift card revennue recognized in 2017 4070 Note: As the gift card will get expired in Aug. Therfore, the cards not redeemed shall also be treated as revenue. Year Revenue 2016 14430 2017 4070

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