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What was the amount of gift cards redeemed by customers

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Problem

Unearned Revenue, which represents the company's obligation to honor gift cards previously issued to customers, totaled $5,500 at the beginning of the year and $7,500 at the end of the year. Customers purchased gift cards amounting to $42,000 during the year. What was the amount of gift cards redeemed by customers during the year?

Reference no: EM131786465

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