Business, 17.07.2021 03:00 BrownieMan123

A retail store sold gift certificates that are redeemable in merchandise. The gift certificates lapse one year after they are issued. How would the deferred revenue account be affected by each of the following? Redemption of certificates Lapse of certificates
a. Decrease Decrease
b. Decrease No effect
c. No effect Decrease
d. No effect No effect

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A retail store sold gift certificates that are redeemable in merchandise. The gift certificates laps...