Unearned Revenue, which represents the companys obligation to honor gift cards previously issued to customers,...
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Unearned Revenue, which represents the companys obligation to honor gift cards previously issued to customers, totaled $5,600 at the beginning of the year and $7,700 at the end of the year. Customers purchased gift cards amounting to $43,000 during the year. What was the amount of gift cards redeemed by customers during the year?
$29,700
$45,100
$56,300
$40,900
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