As of December $31,$ the unadjusted balance in Unearned Revenue contains $$5,600$ for unredeemed gift cards. An analysis of the monthly sales indicates that

$$3,200$ worth of gift cards were redeemed during the month but not yet recorded. How will these transactions affect the adjustments at the end of the period?

$($Check all that apply.$)$

Sales Revenue needs to be increased by the amount of gift cards redeemed during the month.

Sales Revenue needs to be decreased by the amount of gift cards redeemed during the month.

No adjustment is necessary as the gift cards were credited to revenue at the time they were sold.

Cash needs to be increased by the amount of gift cards redeemed during the month.

Unearned Revenue needs to be decreased by the amount of gift cards redeemed during the month.