8-4

Exercise 8-10 (Algo) Analyze and record deferred revenues (LO8-4) Orange sells gift cards in $15,$25, and $50 increments. Assume Orange sells $20.7 million in iTunes gift cards in November, and customers redeem $13.7 million of the gift cards in December. Required: 1. \& 2. Record the necessary entries in the Journal Entry Worksheet below. 3. What is the ending balance in the Deferred Revenue account? Complete this question by entering your answers in the tabs below. Record the necessary entries in the Joumal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal Entry Required "in the first account field. Enter your answers in dollars, not in millions (i.e. 5.5 million should be entered as 5,500,000)) Journal entry worksheet Notel Enter deblts before creaits Exercise 8-10 (Algo) Analyze and record deferred revenues (LO8-4) Orange sells gift cards in $15,$25, and $50 increments. Assume Orange sells $207 million in iTunes gift cards in November, and customers redeem $13.7 million of the gift cards in December. Required: 1. \& 2. Record the necessary entries in the Journal Entry Worksheet below. 3. What is the ending balance in the Deferred Revenue account? Complete this question by entering your answers in the tabs below. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Joumal Entry Required" in the first account field. Enter your answers in dollars, not in millions (i.e. 5.5 million should be entered as 5,500,000), ) Journal entry worksheet Exercise 8-10 (Algo) Analyze and record deferred revenues (LO8-4) Orange sells gitt cards in $15,$25, and $50 increments. Assume Orange sells $20.7 million in iTunes gift cards in November, and customers redeem $13.7 milion of the gift cards in December. Required: 1. \& 2. Record the necessary entries in the Journal Entry Worksheet below. 3. What is the ending balance in the Deferred Revenue account? Complete this question by entering your answers in the tabs below. What is the ending balance in the Deferred Revenue account? (Enter your answer in dollars, not in miltions. (i.e. 5.5million should be entered as 5,500,000) )