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1.Mayzs sells $1,000,000 dollars of gift cards on November 30. As of December 31 $500,000 of those gift cards have been redeemed for merchandise that

1.Mayzs sells $1,000,000 dollars of gift cards on November 30. As of December 31 $500,000 of those gift cards have been redeemed for merchandise that sells for $500,000. The sold merchandise cost Mayzs $250,000. What journal entires should Mayzs make on November 30 and December 31. Explain your answer.

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