Gift cards have become very popular and can be purchased either directly from your favourite store or from large gift card stands found at your local grocery store, pharmacy, gas station, or big box store. You most likely received at least one gift card to your favourite store for Christmas or your most recent birthday.

Let's assume you received a $$86$ gift card for Ivanhoe from a friend. Your friend purchased the gift card directly from a Ivanhoe store.

Ignore sales taxes.You just went to Ivanhoe and found your favourite jeans on sale, so you bought two pair for a total cost of $$129.$ Record the journal entry Ivanhoe should make for this transaction, assuming a perpetual inventory system and jeans with a cost of $$81.$

Ignore any PST and GST on the sale. $($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 O for the amounts. List all debit entries before credit entries.$)$