Help Save & Exit Submit 15 The following facts relate to gift cards sold by Sunbru Coffee Company during 2018, Sundru's fiscal year ends on December 31 (a) in October 2018, sold $3,200 of gift cards, and redeemed $520 of those gift cards. b) in November 2018, sold $4,200 of gift cards, and redeemed $1420 of October gift cards and $720 of November gift cards (c) in December 2018, sold $3,200 of gift cards, and redeemed $220 of October gift cards, $2.200 of November gift cards, and $420 of December gift cards (4) Sunbru views a gift card to be broken (with a remote probability of redemption) two months after the end of the month in which it is sold. Thus, an unredeemed gift card sold at any time during July would be viewed as broken as of September 30 Doch Required: 1. Prepare all journal entries appropriate to be recorded only during the month of December 2018 relevant to gift card 2. Determine the balance of the deferred revenue liability to be reported in the December 31, 2018, balance sheet Prepare the relevant account information to support your answer Complete this question by entering your answers in the tabs below. Geng on Card Revenue Taccount Prepare all journal entries appropriate to be recorded only during the month of December 2018 relevant to gift card sales, redemptions, and gift card breakage (If no entry is required for transaction/event, select "No journal entry required in the firs account neid.) View transaction View jumal entry worksheet NO IN Transaction 1 General Journal Credit 1 bebat 3.200 Cash Deferred gift card 2.200 2 2 Defend it card revenue Oit card revenue 2.840 2.840 2 3 Deferred and were On card revenue 1010 1.040 G Card Ravenue> Subm The following facts relate to gift cards sold by Sunbru Coffee Company during 2018. Sunbru's fiscal year ends on December 31 (al In October 2018, sold $3,200 of gift cards, and redeemed $520 of those gift cards. (b) in November 2018, sold $4.200 of gift cards, and redeemed $1,420 of October gift cards and 5720 of November gift cards c) in December 2018, sold $3,200 of gift cards, and redeemed $220 of October gift cards, $2,200 of November gift cards, and $420 of December gift cards d) Sunbu views a gift card to be "broken with a remote probability of redemption two months after the end of the month in which it is sold. Thus, an unredeemed gift card sold at any time during jy would be viewed as broken as of September 30 Required: Prepare al journal entries appropriate to be recorded only during the month of December 2018 relevant to gift card 2. Determine the balance of the deferred revenue ability to be reported in the December 31, 2018, balance sheet Prepare the relevant T-account information to support your answer Complete this question by entering your answers in the tabs below General Journal GT R Determine the balance of the deferred revenue by to be reported in the December 31, 2018, balance sheet 460 15 17 Next > yedi ends on December 31 (a.) In October 2018, sold $3,200 of gift cards, and redeemed $520 of those gift cards. (b) In November 2018, sold $4,200 of gift cards, and redeemed $1,420 of October gift cards and $720 of November gift cards, (c.) in December 2018, sold $3,200 of gift cards, and redeemed $220 of October gift cards, $2,200 of November gift cards, and $420 of December gift cards. (d.) Sunbru views a gift card to be "broken" (with a remote probability of redemption) two months after the end of the month in which it is sold. Thus, an unredeemed gift card sold at any time during July would be viewed as broken as of September 30. ok Required: 1. Prepare all journal entries appropriate to be recorded only during the month of December 2018 relevant to gift card sales, gift card redemptions, and gift card breakage, 2. Determine the balance of the deferred revenue liability to be reported in the December 31, 2018, balance sheet. Prepare the relevant T-account information to support your answer. Complete this question by entering your answers in the tabs below. General Journal Gift Card Revenue Taccount Prepare the relevant T-account information to support your answer. Deferred Gift Card Revenue Beg Bal October sales November sales December sales October redemptions November redemptions December redemptions End, Bal