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Grouper Taco Palace sells 280 gift cards at $50 per gift card and 140 of the gift cards are redeemed by year-end. Grouper estimate that

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Grouper Taco Palace sells 280 gift cards at $50 per gift card and 140 of the gift cards are redeemed by year-end. Grouper estimate that it will have 10\% breakage on its gift cards. Prepare the entry for the gift card redemption and the expected breakage for the gi cards in the current year. (Ignore Cost of Goods Sold.) (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually, List all debit entries before credit entries. Round intermediate calculations to 4 decimal places, es. 0.2456 and final answers to O decimal places, e.8. 5.125.)

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