Device Depot sells mobile devices and accessories. During September, the following transactions occurred.
1. Jimmy Johnson bought a $100 gift card for his uncle Samuel Johnson.
2. Sold $50 of merchandise to Samuel Johnson, who used his gift card for payment. (Omit the entry for cost of goods sold.)
3. Performed a physical count of inventory and determined the correct value of inventory should be $12,000. The unadjusted balance in the Inventory account was $10,000.
Prepare the entries to record the transactions.