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***I have everything but the missing accounts*** Tamarisk sells 20 nonrefundable $90 gift cards for 3D printer paper on March 1, 2020. The paper has

***I have everything but the missing accounts***

Tamarisk sells 20 nonrefundable $90 gift cards for 3D printer paper on March 1, 2020. The paper has a standalone selling price of $90 (cost $72). The gift cards expiration date is June 30, 2020. Tamarisk estimates that customers will not redeem 10% of these gift cards. The pattern of redemption is as follows.

Redemption Total
March 31 50 %
April 30 80
June 30 85

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Prepare the 2020 journal entries related to the gift cards at March 1, March 31, April 30, and June 30. (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 Ofor the amounts. Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to O decimal places eg. 58,971.) Account Titles and Explanation Debit Cre Date Mar. 1, 2020 cash 1800 Mar 31, 2020 900 Sales Revenue (To record sales of cards redeemed) Cost of Goods Sold 720 Inventory (To record cost of goods sold) Apr 30, 2020 540 Sales Revenue (To record sales of cards redeemed) Cost of Goods Sold 432 Inventory (To record cost of goods sold) Jun 30, 2020 90 Sales Revenue (To record sales of cards redeemed) Cost of Goods Sold 72 Inventory (To record cost of goods sold) 180 Sales Revenue (To record sales of cards not redeemed)

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