Required information [The following information appi Apple Inc. is the number one o and $50 increments. Assume A million of the gift cards in Dece B. What is the ending balance in the entered as 5,500,000).) Ending balance
Required information [The following information appi Apple Inc. is the number one o and $50 increments. Assume A million of the gift cards in Dece B. What is the ending balance in the entered as 5,500,000).) Ending balance
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![**Required Information**
The following information applies to the questions displayed below:
Apple Inc. is the number one online music retailer through its iTunes music store. Apple sells iTunes gift cards in $15, $25, and $50 increments. Assume Apple sells $202 million in iTunes gift cards in November, and customers redeem $132 million of the gift cards in December.
**3. What is the ending balance in the Deferred Revenue account?**
*(Enter your answer in dollars, not in millions. i.e., 5.5 should be entered as 5,500,000)*
**Answer:** [Ending balance input box]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fed18415a-af27-44e8-aa80-ad5d454cc154%2F76f48536-5307-4829-ae32-1ecef240fc49%2Fwjnn2r.jpeg&w=3840&q=75)
Transcribed Image Text:**Required Information**
The following information applies to the questions displayed below:
Apple Inc. is the number one online music retailer through its iTunes music store. Apple sells iTunes gift cards in $15, $25, and $50 increments. Assume Apple sells $202 million in iTunes gift cards in November, and customers redeem $132 million of the gift cards in December.
**3. What is the ending balance in the Deferred Revenue account?**
*(Enter your answer in dollars, not in millions. i.e., 5.5 should be entered as 5,500,000)*
**Answer:** [Ending balance input box]
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