7) Assume a company had a balance in its unearned gift card revenue account on its December 31st balance sheet of $10,000. The gift cards in this account will expire on June 30th of the following year. On June 30th, $8,000 of merchandise had been exchanged for amounts from the gift cards. How should the $2,000 balance in the unearned gift card revenue account be handled after June 30th? 8) The Starr Restaurant credits the full amount collected each day to a Sales account. Sales tax percentage applying to all restaurant sales 6% Total amount in Sales account at month-end $ 40,916 REQUIRED: Determine the amount reported as "SALES" on the income statement