3 A restaurant with a December 31 fiscal year-end sold $2,700 of gift cards in 2022. Customers redeemed $1,500 in gift cards during 2022. The restaurant sale tax of 4% is applied at the time of redemption. The restaurant will remit sales taxes in January. Requirement 1: Record (in aggregate) the $2,700 in gift cards sold and the $1,500 in gift cards redeemed (Hint: $1,500 includes a 4% sales tax). JE Gift cards sold Dr. Cr. JE Gift cards redeemed Dr. Cr. Requirement 2: Gift card amount un-redeemed at the end of 2021 was $1,000. What is its balance at the end of 2022