Phantom Bed & Breakfast Inn opened in 2021 and sold gift certificates that year totaling $15,300. The

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Phantom Bed & Breakfast Inn opened in 2021 and sold gift certificates that year totaling $15,300. The gift certificates were valid for 6 months and expired after that. During 2021, $4,500 of those certificates were presented for redemption during 2021 and $1,900 expired. How much was debited to the Deferred Revenue account in the adjusting entry for the redemption of the gift certificates?

Posted Date: Dec 07, 2021 04:13 PM

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Phantom Bed & Breakfast Inn opened in 2021 and sold gift certificates that year totaling $15,300. The

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Answer Amount debited to Deferred Revenue Ac must be 1530... View the full answer

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