1. A chain of stores sells gift cards redeemable in its own stores. You can buy a gift card in any of the chain of stores, and redeem the card at any store which belongs to the chain. See separate sheet for (a) the amount of money loaded onto the cards in a month, (b) redemptions against the gift cards in a following month, assuming that the redemptions were for merchandise which was subject to sales tax, and (c) expiration of gift cards that still had unredeemed money on them.Make the appropriate entries

Amount of money loaded onto gift cards in a month-1,289,325.00

Redemptions, which were for merchandise subject to sales tax- 27,925.38

Sales tax rate, in percent- 6.5

Amount of money remaining on gift cards when they expired-76,219.03