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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?

Respuesta :

vidarshanaperera1979

Answer: DR. Cr

Explanation: waterbottle. 20

Cash. 30

I'm not sure if this is right.

weaambenyounes29

Answer:

The correct answer is

Debit / Deferred Revenue, $20

Credit / Sales Revenue, $20

Good luck