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What is gift card redeemed? And what is entry posting. 

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Alternative to cash to buyback or purchase something in a particular store.Entry posting is the next step of journalizing in accounting.
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WILL TO LEARN UNKNOWN

Alternative to cash to buyback or purchase something in a particular store.Entry posting is the next step of journalizing in accounting.
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Commerce Classes

Gift card is usually a voucher issued by a retailer to be used as an alternative to cash... Now redeemed of gift cards mean conversation the gift amount into goods or any other form. Recording of transactions in the proper books is basically entry posting.
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Deffered revenue from gift card a/c Dr. To sales a/c
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