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Robin Corporation begins the year with a balance of $300,000 in unearned revenue related to...

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Accounting

Robin Corporation begins the year with a balance of $300,000 in unearned revenue related to unredeemed gift cards. During the year, $800,000 in gift cards expiring in 18 months are sold, of which $600,000 worth of gift cards have been redeemed in the same year. Another $50,000 in gift cards expired during the year and was transferred to revenue. Which of the following is the amount of revenue Robin earned from gift cards during the period?

Group of answer choices

$300,000

$500,000

$650,000

$800,000

$600,000

Answer & Explanation Solved by verified expert
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