Target sells gift cards that can be used at any Target store or on Target.com. Target encodes information on each card's magnetic strip, including the card's value and the store where it was purchased. Target gift cards do not have expiration dates. When does Target record revenue from the gift card?
Select one:
a.
When the customer uses the gift card, at which point, Target also records an allowance for estimated product returns.
b.
Two years after the date of the sale, which is when the gift card expires.
c.
When the gift card is sold.
d.
90 days after the date the customer uses the gift card, which is when the product return period expires.