Question: please show step by step solution 18) In Logan's Yoga Studio experience, gift cards that have not been redeemed within 12 months are not likely

please show step by step solution

18) In Logan's Yoga Studio experience, gift cards that have not been redeemed within 12 months are not likely to be redeemed. Logan's Yoga sold gift cards for $41,950 during August 2021. $4,300 of cards were redeemed in September 2021,$8,810 in October, $2,610 in November, and $2,190 in December 2021. In 2022 an additional $1,290 of cards were redeemed in January and $935 in February. Required: How much liability associated with the August 2021 gift card sales would Logan's Yoga recognize on the 12/312021 balance sheet

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