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Explain what is the impact on gamestop financial statements

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Reference no: EM132824816

Gamestop Corp. said the following about its gift card sales in its most recent (2019) annual report:

"We establish a liability upon the issuance of merchandise credits and the sale of gift cards. Revenue is subsequently recognized when the credits and gift cards are redeemed."

Problem 1: When Gamestop sells merchandise to a customer who is using a Gamestop gift card to purchase the merchandise, what is the impact on Gamestop's financial statements? (Ignore any inventory effects)

Reference no: EM132824816

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