Gmail Dauwgba You Tube Help Save & Exit Submit Peterson Photoshop sold $2,600 in gift cards on a special promotion on October 15, 2021, and sold $3,900 in gift cards on another special promotion on November 15, 2021. Of the cards sold in October, $260 were redeemed in October, $650 in November, and $780 in December. Or the gift cards sold in November, $390 were redeemed in November and $910 were redeemed in December. Peterson views the probability of redemption of a gift card as remote if the card has not been redeemed within two months. At 12/31/2021, Peterson would show a deferred revenue account for the gift cards with a balance of: 4:45