Zehra Inc. had gift card sales in 2023 for $100,000. On December 31, 2023, its year end,

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Zehra Inc. had gift card sales in 2023 for $100,000. On December 31, 2023, its year end, $30,000 of these gift cards were not redeemed. Zehra does not expire gift cards.

(a) Explain whether or not these gift cards can be included in revenue.

(b) Explain how big data could change your answer to part (a).

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Intermediate Accounting Volume 1

ISBN: 9781119740469

13th Canadian Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy

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Question Posted: Jun 16, 2023 03:12 AM

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Zehra Inc. had gift card sales in 2023 for $100,000. On December 31, 2023, its year end,

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a G ift cards may not all be redeemed by customer s or redeemed for l...View the full answer

Intermediate Accounting Volume 1

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