Question: When a business sells a gift card, why is the amount recorded as a liability instead of revenue?
When a business sells a gift card, why is the amount recorded as a liability instead of revenue?
Step by Step Solution
★★★★★
3.49 Rating (172 Votes )
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Proceeds from gift card sales are recorded as liabilities b... View full answer
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
Document Format (1 attachment)
408-B-A-L (4643).docx
120 KBs Word File
