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During February, the last month of its fiscal year. Wildhorse Ltd. sells $64,800 of gift cards. From experience, management estimates that 4% of the gift

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During February, the last month of its fiscal year. Wildhorse Ltd. sells $64,800 of gift cards. From experience, management estimates that 4% of the gift cards sold will not be redeemed by customers. In March, cards worth $6,480 are redeemed for merchandise with a cost of $1,620. In April, cards worth a further $48,600 are redeemed for merchandise with a cost of $16,200. The company uses a perpetual inventory system. Also in February, Wildhorse had $3,240 of unused gift cards that were over one year old and were not expected to be used. The amount was in line with the company's normal breakage and all other gift cards of the same age had been used. (a) Prepare journal entries to record the transactions for February, March, and April. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Do not round intermediate calculations. Round answers to 0 decimal places, e.g. 125 . List all debit entries before credit entries.) WileypLus Assignment - Chapter 9 Question 3 of 5 (To record breakage) (Gitcards redeemed for merchisndise) (To record cost of merchandise) (To recordbreakagou

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