Retail
Redemption of a Customer Gift Card
Recording revenue when a customer finally uses their gift card to buy something.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Gift Card Liability | Liability (-) | 50.00 | - |
| Sales Revenue | Revenue (+) | - | 50.00 |
💡 Accountant's Note
This entry converts the liability into earned revenue. The company has now fulfilled its obligation to the customer.
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