Target Corporation sells gift cards that can be used at any of the company's Target or Greatland stores. Target encodes information on the card's magnetic strip about the card's value, and the store where it was purchased. Target gift cards do not have expiration dates.

a. How will Target's balance sheet reflect the gift card? Will the balance sheet amount of these cards be classified as current or noncurrent?

b. When does Target record revenue from the gift card?