Answer both questions clearly and show your work please:

It is close to midnight when Joe Fernando, an experienced gambler, sits down at a Blackjack table to play at the Casino Royal, a respectable casino in Nevada. Joe places a twenty-dollar bill on the table, which the dealer, Evelyn Roker, exchanges for twenty $1 gaming chips. He then places five $1 gaming chips as a wager for a hand of Blackjack. Evelyn deals the initial cards for the game and Joe (who is the only player around the table) decides on whether to hold on to his existing cards or receive additional cards. The hand is completed through the individual customers' decisions at the table in this case, only Joe's) as well as the dealer's own decision on the "house" hand. As a result of this hand of play, Joe wins and receives five $1 chips in addition to his initial bet of five $1 chips. Joe now has a twenty-five $1 chips, which can either be redeemed at the "cage" (the cashier's box) for currency or used in other gaming transactions. It is already after midnight when Joe decides, before returning to his hotel room, to enter one last hand at the Blackjack table by placing, this time, ten $1 gaming chips as a wager. Evelyn, who is still at the table by herself (her shift ends only at 1 a.m.), deals the initial cards for the game. As a result of this hand of play, Joe loses and forfeits the ten $1 chips wagered to the dealer's table inventory, resulting in a win to Casino Royal. Joe now holds 15 $1 chips, which can either be cashed in at the cage or used in other gaming transactions. At this point, Joe retires to his room, resolved to show up the next morning at the Blackjack table in attempt to recuperate at least some of his loss. Joe wakes up very early in the morning to a phone call from Gretchen, his wife. She is mad about his gambling activities, ordering him to return home immediately. Joe packs his stuff and before leaving he cashes in at the cage the chips he still owes. Your Assignment Assume that Casino Royal records its gambling transactions continuously when chips are purchased, bets are placed, bets are won or lost, and chips are redeemed. 1. What would Casino Royal's Revenue be from Joe's wagers in, separately, Day 1 and Day 2? 2. What effects, if any, would these transactions have on Balance Sheet items as of the end of, separately, Day 1 and Day 2