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Bull'sEye sells gift cards redeemable for Bull'sEye products either in-store or online. During 2021, Bull'sEye...

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Accounting

Bull'sEye sells gift cards redeemable for Bull'sEye products either in-store or online. During 2021, Bull'sEye sold $2,500,000 of gift cards, and $2,300,000 of the gift cards were redeemed for products. As of December 31, 2021, $160,000 of the remaining gift cards had passed the date at which Bull'sEye concludes that the cards will never be redeemed. How much gift card revenue should Bull'sEye recognize in 2021?

$2,460,000

$2,340,000

$2,300,000

$2,500,000

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