Styles nsert hemes CeDdE Text Box ezto.mheducation.com iz Carolina Panthers YouT

Question

Styles nsert hemes CeDdE Text Box ezto.mheducation.com iz Carolina Panthers YouTube nect ACCOUNTING ACC120 Fund of Fin nline Fund of Finl Acctg Sth Ed instructions i help Question 5 (of 10) save & Exit 7, Submit Time remaining: 0:14:51 Unearned Revenue, which represents the company's obligation to honor gift cards previously issued to customers, totaled $7,400 at the beginning of the year and $11,300 at the end of the year. Customers purchased gift cards amounting to $61,000 during the year. What was the amount of gift cerds redeemed by customers during the year? O $57100 O $64,900 O $79700 O $42.300

Explanation / Answer

Calculation of gift cards redeemed during the year:

Gifts card redeemed= beginning gift cards+ purchases- ending gift cards

Gift cards redeemed=7400+61000-11300= 57100

So correct answer is $57100

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