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During February 2020, Bonita Massage Ltd. sells $8,000 of gift cards for Valentine's Day gifts. From reliable past experience, management estimates that 10% of the

During February 2020, Bonita Massage Ltd. sells $8,000 of gift cards for Valentine's Day gifts. From reliable past experience, management estimates that 10% of the gift cards sold will not be redeemed. By the end of February, $3,000 was redeemed by customers.

Prepare the journal entries for Bonita Massage for February 2020.
Date Account Titles and Explanation Debit Credit February 2020 (To record the sale of gift cards) February 2020 (To record service revenue)

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