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What adjusting journal entry should visa make on september

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Visa's property and equipment depreciated $767 million during fiscal 2020. What adjusted journal entry would this be?

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a) On September 1, 2020, Visa sold Visa gift cards for $6 million through different retail stores and made the following journal entry:

Dr. Cash

6 million

Cr. Unearned Revenue

6 million

Visa had no more gift card sales until Sept 30, 2020, and did not make any journal entries related to the unearned revenue after the initial journal entry shown above. What adjusting journal entry should Visa make on September 30, 2020 related to the unearned revenue, if $5 million still hasn't been earned?

Reference no: EM132779791

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