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Level 1

how to account for complimentary coffee / inherited debt for gift cards

New business owner and trying to figure out how to account for some details

 

Complimentary coffee (machine and materials) for customers and staff

 

also - we bought a business and they had no idea how much was outstanding for gift cards -  we accepted up to $500 in debt for this (the rest will be subtracted at closing) 
As these come in - - do they go under a goodwill category  - -or some form of debt?

 

 

Thanks for your help

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