Prepare the 2023 journal entries related

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Question: Colbert sells 20 non-refundable $100 gift cards for 3-D printer plastic on March 1, 2023. The plastic has a stand-alone selling price of $100 (cost $80). The gift card expiration date is June 30, 2023. Colbert estimates that customers will not redeem 10% of these gift cards. The pattern of redemption is as follows. March 31 April 30 June 30 Cumulative Redemption Rate to Date 50% 80% 85% O Type here to search Jack 18d240SA2 Prepare the 2023 journal entries related to the gift cards at March 1, March 31, April 30, and June 30.

Reference no: EM133496947

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