In January 2024, Basu Department Store sells a gift card for $60 and receives cash....
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In January 2024, Basu Department Store sells a gift card for $60 and receives cash. In February 2024, the customer comes back and spends $30 of the gift card to purchase a water bottle. What is the financial statement effect of the customer's purchase of the water bottle in February? Multiple Choice O O Increase assets by $30 and increase stockholders' equity by $30 Decrease liabilities by $30 and increase stockholders' equity by $30 Increase assets by $30, decrease liabilities by $30, and increase stockholders' equity by $60 Increase assets by $30, decrease liabilities by $60, and increase stockholders' equity by $30 
In January 2024, Basu Department $ tore sells a gift card for $60 and recelves cash. In February 2024, the customer comes back and spends $30 of the gift card to purchase a water bottle. What is the financial statement effect of the customer's purchase of the water bottie in February? Mutiple Choice Increase assets by $30 and increase stockholders' equity by $30 Decrease liabilities by $30 and increase stockholders' equity by $30 Increase assets by $30, decrease labilies by $30, and increase stockhoiders equity by $60 Increase assets by $30, decrease liabilities by $60, and increase stockhoiders' equily by $30
In January 2024, Basu Department Store sells a gift card for $60 and receives cash. In February 2024, the customer comes back and spends $30 of the gift card to purchase a water bottle. What is the financial statement effect of the customer's purchase of the water bottle in February? Multiple Choice O O Increase assets by $30 and increase stockholders' equity by $30 Decrease liabilities by $30 and increase stockholders' equity by $30 Increase assets by $30, decrease liabilities by $30, and increase stockholders' equity by $60 Increase assets by $30, decrease liabilities by $60, and increase stockholders' equity by $30
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