On July 1, 2021, a company sells $2,000 of gift cards to customers. The gift cards expire one year from the date of sale. By December 31, 2021, $1,600 of the gift cards have been redeemed. What is the appropriate balance in the Deferred Revenue account on December 31, 2021?
A. $400.
B. $1,600.
C. $2,000.
D. $1,800.
Answer: A
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Indicate whether the statement is true or false