Comments on: Journal entries for sales with giving free gift cards? http://giftcardpromos.com/journal-entries-for-sales-with-giving-free-gift-cards/ GiftCardPromos.com Thu, 08 Jul 2010 00:02:10 -0400 http://wordpress.org/?v=2.8.2 hourly 1 By: elessar599 http://giftcardpromos.com/journal-entries-for-sales-with-giving-free-gift-cards/comment-page-1/#comment-583 elessar599 Wed, 30 Sep 2009 07:45:30 +0000 http://giftcardpromos.com/journal-entries-for-sales-with-giving-free-gift-cards/#comment-583 I believe it would be: 1. Debit Cash/Sales, Credit Gift Card Liability 2. Debit Gift Card Liability, Credit Inventory or whatever the customer takes away of value. 3. Over time they may write off the portion of unused cards by Debiting the Gift Card Liability, and Crediting?? Unused Gift Card (not sure what that would be, not a liability..) I believe it would be:

1. Debit Cash/Sales, Credit Gift Card Liability
2. Debit Gift Card Liability, Credit Inventory or whatever the customer takes away of value.
3. Over time they may write off the portion of unused cards by Debiting the Gift Card Liability, and Crediting?? Unused Gift Card (not sure what that would be, not a liability..)

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