In Lizzie Shoes' experience, gift cards that have not been redeemed within 12 months are not likely

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In Lizzie Shoes' experience, gift cards that have not been redeemed within 12 months are not likely to be redeemed. Lizzie Shoes sold gift cards for $18,000 during August 2018. $4,000 of cards were redeemed in September 2018, $3,000 in October, $2,500 in November, and $2,000 in December 2018. In 2019 an additional $1,000 of cards were redeemed in January and $500 in February. How much gift card revenue associated with the August 2018 gift card sales would Lizzie get to recognize in 2018 and 2019?
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Intermediate Accounting

ISBN: 9781259722660

9th Edition

Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas

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