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At December 31, 2020, Sharon's boutique had 2050 gift certificates outstanding, which had been sold...

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Accounting

At December 31, 2020, Sharon's boutique had 2050 gift certificates outstanding, which had been sold to customers during 2020 for $70 each. Sharon's operates on a gross profit of 60% of its sales. What amount of revenue pertaining to the 2050 outstanding gift certificates should be deferred at December 31, 2020?

A. $143,500

B. $0

C. $57,400

D. $86,100

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