Solution-What amount should Prairie Dog record

What amount should Prairie Dog record

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Reference no: EM132595822

Question - Prairie Dog, Inc. had total merchandise sales of $15,678,000 during 2028. Of those, sales, $1,110,000 were returned and the customer's money refunded. The returned goods were then transferred to the company's outlet stores where 40% of that merchandise was sold for $260,000. During 2028, the company also sold $2,750,000 in gift cards. At the beginning of 2028, the company had $4,350,000 in gift cards outstanding. During 2028, $1,952,000 in gift cards were redeemed, 20% of those were from cards sold in 2028, and $18,000 of old gift cards, that had expiration dates, expired.

What amount should Prairie Dog record as gift card expense in 2028?

What amount should Prairie Dog record as total unearned gift card revenue for gift card transactions in 2028?

What amount of gift card revenue should Prairie Dog record in 2028?

What is the balance in the unearned gift card revenue account at 12-31-2028?

Reference no: EM132595822

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What amount should Prairie Dog record

Reference no: EM132595822

Reference no: EM132595822

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