CircuitTown commenced a gift card program in January $2024$ and sold $$12,200$ of gift cards in January, $$16,400$ in February, and $$20,400$ in March $2024$ before discontinuing further gift card sales. During $2024,$ gift card redemptions were $$6,500$ for the January gift cards sold, $$5,400$ for the February cards, and $$6,900$ for the March cards. CircuitTown considers gift cards to be "broken" $($not redeemable$)10$ months after sale.

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How much revenue will CircuitTown recognize with respect to January gift card sales during $2024?$

Prepare journal entries to record the sale of January gift cards, redemption of gift cards $($ignore sales tax$),$ and breakage $($expiration$)$ of gift cards.

How much revenue will CircuitTown recognize with respect to March gift card sales during $2024?$

What liability for deferred revenue associated with gift card sales would CircuitTown show as of December $31,2024?$

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How much revenue will CircuitTown recognize with respect to January gift card sales during $2024?$

How much revenue will CircuitTown recognize with respect to March gift card sales during $2024?$

What liability for deferred revenue associated with gift card sales would CircuitTown show as of December $31,2024?$

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Revenue recognized from January gift card sales

Revenue recognized from March gift card sales

Year$-$end deferred revenue liability