[Answered] Vandalay Industries sells gift cards redeemable for Vandalay products either in-store or online. During 2021, Vandalay sold $2,000,000 of gift

Vandalay Industries sells gift cards redeemable for Vandalay products either in-store or online. During 2021, Vandalay sold $2,000,000 of gift cards, and $1,800,000 of the gift cards were redeemed for products. As of December 31, 2021, $150,000 of the remaining gift cards had passed the date at which Vandalay concludes that the cards will never be redeemed. How much gift card revenue should Vandalay recognize in 2021

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