Target sells gift cards that can be used at any Target store or on Target.com....
60.1K
Verified Solution
Link Copied!
Question
Accounting
Target sells gift cards that can be used at any Target store or on Target.com. Target encodes information on each card's magnetic strip, including the card's value and the store where it was purchased. Target gift cards do not have expiration dates. How will Target's balance sheet reflect the gift card when it is initially sold? Select one: a As a liability: unearned revenue b As an asset: cash and cash equivalents c As sales revenue d As an asset: allowance for product sales
Target sells gift cards that can be used at any Target store or on Target.com. Target encodes information on each card's magnetic strip, including the card's value and the store where it was purchased. Target gift cards do not have expiration dates. How will Target's balance sheet reflect the gift card when it is initially sold?
Select one:
a
As a liability: unearned revenue
b
As an asset: cash and cash equivalents
c
As sales revenue
d
As an asset: allowance for product sales
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.