Answer:
$1,000
Explanation:
November sales = $1,500
November redemption = $150
December redemption = $350
Unearned revenue account for the gift cards:
= November sales - November redemption - December redemption
= $1,500 - $150 - $350
= $1,000
Therefore, the Peterson would show an unearned revenue account for the gift cards with a balance of $1,000.