Exam 10: Liabilities: Current, Installment Notes, and Contingencies

A)
$\begin{array}{ll}\text { Gift Card Expense } & 3,200 \\\text { Gift Card Payable } &\end{array}$
Expense for month
$(\$ 4000 \times 80 \%)$
B)
Gift Card Expense $\quad$ 4,000
Gift Card Payable $\quad$ 4,000
Expense for month
C)
$\begin{array} { l l } \text { Gift Card Payable } & 3,200 \\\text { Gift Card Expense } & 3,200 \\\text { Expense for month } & \\( \$ 4,000 \times 80 \% ) &\end{array}$
D)
$\begin{array} { l c } \text { Gift Card Payable } & 4,000 \\\text { Gift Card Expense } & 4,000 \\\text { Expense for month } &\end{array}$

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