Complete the journal entries for Beethoven Sonatas for Year 1 and Year 2, then answer the question below.

Records $500,000 in gift card sales in Year 1

Can reliably estimate the amount of breakage to be 25% and the redemption period to be 2 years

$235,000 of gift cards redeemed in Year 1 and $140,000 in Year 2

Beethoven's cost of goods sold percentage: 80%

What is the balance in the unearned revenue account at the end of Year 2?