Board Building Co. redeemed $3,850 of gift cards that customers used to pay for services that were performed by the company. The related adjusting entry would include a debit to:

		Accounts Receivable and a credit to Service Revenue.
		Deferred Revenue and a credit to Service Revenue.
		Cash and a credit to Deferred Revenue.
		Cash and a credit to Service Revenue.

Answer rating: 100% (QA)

Gift card redeemed 3850 Gift card represents revenue received in advance ie def... View the full answer