1) A company gives each of its 50 employees (assume they were all employed continuously through 2018 and 2019) 12 days of vacation a year if they are employed at the end of the year. The vacation accumulates and may be taken starting January 1 of the next year. The employees work 8 hours per day. In 2018, they made $17.50 per hour and in 2019 they made $20 per hour. During 2019, they took an average of 9 days of vacation each. The company's policy is to record the liability existing at the end of each year at the wage rate for that year. Under U.S. GAAP, what amount of vacation liability would be reflected on the 2018 and 2019 balance sheets, respectively? A) $84,000; $117,000 B) $96,000; $108,000 C) $84,000; $24,000 D) $96,000; $24,000 2) Bull's Eye Department Stores, Inc. records $200,000 in gift card sales and receives cash in year 1. Customers redeemed 10% of the gift cards to purchase merchandise in year 2. Which of the following would be included in the summary journal entry to reflect the year 2 redemption transactions? A) debit Unearned Revenue $20,000 B) credit Uneamed Revenue $20,000 C) debit Sales Revenue $180,000 D) credit Sales Revenue $180,000