In Lizzie Shoes’ experience, gift cards that have not been redeemed within 12 months are not likely to be redeemed. Lizzie Shoes sold gift cards for $18,000 during August of 2016. $4,000 of cards were redeemed in September of 2016, $3,000 in October, $2,500 in November, and $2,000 in December of 2016. In 2017 an additional $1,000 of cards were redeemed in January and $500 in February.
How much gift card revenue associated with the August 2016 gift card sales would Lizzie get to recognize in 2016 and 2017?
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