$20$

In January $2024,$ Summit Department Store sells a gift card for $$75$ and receives cash. In February $2024,$ the customer comes back and spends $$45$ of the gift card to purchase a water bottle. What is the financial statement effect of the customer's purchase of the water bottle in February?

$01$:$53$:$56$

Multiple Choice

Increase assets by $$30,$ decrease liabilities by $$45,$ and increase stockholders' equity by $$75$

Decrease liabilities by $$45$ and increase stockholders' equity by $$45$

Increase assets by $$45$ and increase stockholders' equity by $$45$

Increase assets by $$30,$ decrease liabilities by $$75,$ and increase stockholders' equity by $$45$