When a business sells a gift card, why is the amount recorded as a liability instead of

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When a business sells a gift card, why is the amount recorded as a liability instead of revenue?

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Financial Accounting A Critical Approach

ISBN: 978-1259066528

4th edition

Authors: John Friedlan

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Question Posted: Feb 26, 2015 11:42 AM

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When a business sells a gift card, why is the amount recorded as a liability instead of

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Proceeds from gift card sales are recorded as liabilities b...View the full answer

Financial Accounting A Critical Approach

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