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  3. pharoah cafe sells gift cards in $27 increments. b

Pharoah Cafe sells gift cards in $27 increments. Based on experience, Pharoah...

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Question

Accounting

Pharoah Cafe sells gift cards in $27 increments. Based on experience, Pharoah estimates that 30% of the gift cards will not be
redeemed. During 2025, the restaurant had total gift card sales of $8800, of which 40% of the estimated amount were redeemed.
The liability that Pharoah will report at December 31,2025 with regard to 2025 gift card sales is
$3771
$2771
$3520
$4224
image

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