-/17 E Question 6 of 10 View Policies Current Attempt in Progress During the month of December, Emile's Electronics sells $7.000 of gift cards. From experience Emile's management expects that 90% of the pift cards sold will be redeemed in January, 54,410 of these cards is redeemed for merchandise with a cost of $2.610 in February, a further $1,323 of these cards is redeemed for merchandise with a cost of $473. The company uses a perpetual inventory system Part 1 Prepare journal entries to record the transactions for December, ary and February (Enter dehit entries first followed by Credit entries Credit account titles are automatically Indented when the amount is entered. Do not indent manually. If no entry is required select "No entry for the accountitles and enter for the amounts. Round answers to decimal places, s 125.) Date Account and explanation Debit Credit Dec (To record cash received for gift cards.) Jan. (To record gift card redeemed for merchandise.) (To record cost of merchandise.) Question 6 of 10 12 Part 2 How much income was owned in each of these month our answers to Odcom1253 December Jana 5 $ $ Sales revenue Cost of goods sold Gross margin $ 5 e Textbook and Media List of Accounts Attempts of used Part 3 What liability of any would appear on the company's statement of financial position at the end of each of these months (Round answers to decimal places, ex 125) $ $ Balance, December 31 Balance, January 31 Balance, February 28 $ e Textbook and Media List of Accounts Safor Latur Attempts:0 of 3 used Sense