olombo Coffee sells gift cards that can be used at its 55 branches. During 2020, customers purchased $25,000 of gift cards, of which $3,000 were redeemed during 2021. It is estimated that a balance of $1,500 of cards sold in 2020 remains unused as of the end of 2021, and Colombo determines that this amount will never be redeemed, based on historical experience. During 2021, Colombo further sold $32,000 of gift cards, of which $26,000 were redeemed and $6,000 remain unused but may be used by customer in 2022. Required: How much gift card revenue should Colombo recognize in 2021

Beswick company your team is allocated a project involving a major client, the beswick company. although the organization has many clients, this client, and project, is the largest source of revenue and affects the work of several other teams in the organization. the project requires continuous involvement with the client, so any problems with the client are immediately felt by others in the organization. jamie, a member of your team, is the only person in the company with whom this client is willing to deal. it can be said that jamie has:

Betty contracted with scooby’s skate store to deliver a pair of skates to jake for his birthday. scooby’s owner was going on a trip and delegated the delivery of the skates to brian. brian failed to make delivery. can jake sue brian for breach of contract, as he was not a party to the original contract? explain your answer. brian was not a party to the original contract. why would a court hold him responsible for failing to make delivery? if you do not think a court would hold him responsible, explain your answer. can jake sue scooby’s skates for breach of contract? explain your answer.

On september 1, 2016, steve loaned brett $2,000 at 12% interest compounded annually. steve is not in the business of lending money. the note stated that principal and interest would be due on august 31, 2018. in 2018, steve received $2,508.80 ($2,000 principal and $508.80 interest). steve uses the cash method of accounting. what amount must steve include in income on his income tax return?