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Unformatted text preview: USSR has not offered similar promotions in the past and does not have an established accounting policy for such promotions. USSRs merchandise margin is approximately 50%. Required: If a customer purchases $100 of merchandise during the promotion and as such receives a $20 gift card, how should USSR account for the transaction? If the gift card is subsequently redeemed or expires unused, how should USSR account for the redemption or expiration? Copyright 2001 Deloitte Development LLC All Rights Reserved....
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This note was uploaded on 03/14/2010 for the course ACCOUNTING ACCT712 taught by Professor Barry during the Spring '10 term at American Academy of Art.
- Spring '10