Adjustments are made at the end of the financial period to record the accrued/deferred revenue or expenses for the period. These adjustments are recorded using the adjusting journal entries. The examples of these journal entries are: depreciation expense, prepaid expense, and accrued interest. To calculate: the amount received for sale of gifts cards during 2017.

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Chapter 4, Problem 4.14E

To determine

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Adjustments are made at the end of the financial period to record the accrued/deferred revenue or expenses for the period. These adjustments are recorded using the adjusting journal entries. The examples of these journal entries are: depreciation expense, prepaid expense, and accrued interest.

To calculate: the amount received for sale of gifts cards during 2017.

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