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What is the ending balance in the deferred revenue account

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Reference no: EM133131910

Question - Watermelon sells gift cards in $15, $25, and $50 increments. Assume Watermelon sells $20.0 million in iTunes gift cards in November, and customers redeem $13.0 million of the gift cards in December.

Required -

1. Record the necessary entries in the Journal Entry Worksheet.

2. What is the ending balance in the Deferred Revenue account?

Reference no: EM133131910

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