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22 July, 17:47

In January, 2018, Summit Co. sells a gift card for $50 and receives cash. In February, 2018, the customer comes back and spends $20 of their gift card on a water bottle. What would be the appropriate journal entry for the purchase of the water bottle?

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  1. 22 July, 18:01
    0
    Answer: DR. Cr

    Explanation: waterbottle. 20

    Cash. 30

    I'm not sure if this is right.
  2. 22 July, 18:14
    0
    The correct answer is

    Debit / Deferred Revenue, $20

    Credit / Sales Revenue, $20

    Good luck
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