Diamond Boutique sold $2,300 of gift cards, and received cash on May 25 . On June 29 , customers redeemed $650 of the gift cards, purchasing merchandise that cost Diamond $429. The store uses a perpetual inventory system. Prepare the journal entries to record the activities related to the gift cards. (Record debits first, then credits. Exclude explanations from any journal entries.) Prepare the journal entry to record the sale of gift cards on May 25. Prepare the journal entry to record the gift cards redemption on June 29 . Do not record the expense related to the sale. We will do that in the following step