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Chapter Returiaml . Question 1 of 1 Vides Current Attempting Durinary the math te MV 20.700 cards from estimates that better in Manchester erhand with a cost $2.500. Artur 11.500 of these conformed with the companies are Anware My Valentina 1.000 meter onder die twee wow new the company's presentado Preparate to connector del contre Contattically indeed when the most elemy for the countries of the westel 123 Debt Credit Date Account is and Explanation Cated for readi) Gtv A G Card ability 1000 Sales To record breake) M Gift Card LOO (Gift Cards redeemed for merchandise 2500 Cost Goods Sold To record cost of merchandise G Card Sales Riv Gtv 4 6 MacBook Air C Question 1 of 1 > Sales Charco break (Gift Cardsredeemed for merchandise To record cost of merchandise (To record breakage Question Part Score How much income of any was earned in each of these months? (Round answers to decimal places, 1250 February March April $ Sales revenue $ Cost of goods sold Grossmani $ e Textbook and Media List of Accounts -15 Question Part Score GIV -122 Question 1 of 1 What ability or would rathe common tomate end of each month and to decimal 1) Batane February 2 3 Balance 31 5 1 Balance April 30 eTextbook and Media Entot Accounts Question Part score Attempt of SI otv Question 1 of 1 - /22 Google Chro View Policies Current Attempt in Progress During February, the last month of the focal year, Be My Valentine Ltd. sells $20.200 of gift cards. From experience, marupement estimates that 8% of the gift cards sold will not be redeemed by customers. In March, 54,600 of these cards is redeemed for merchandise with a cost of $2.500 in April further $11.500 of the cards is redeemed for merchandise with a cost of $2.00. The company uses a perpetual inventory system Also in February.Be My Valentine had $1,000 of unused gift cards that were over one year old and were not expected to be used. The amount was in line with the company normal breakage and other gift cards of the same age had been used Prepare journal entries to record the transactions for February March, and April (Enter debit entries fost followed by credit entries. Credit account titles are automatically indented when the amount entered. Do not indent manually. If entry is required, select "No entry for the accountitles and enter for the amounts. Round answer to decimal places, 125.) Debit Credit Date Account Tities and Explanation Cinco +/22 Dooyen is required, select "No entry for the account titles and enter o for the amounts. Round answers to decimal places, 125.) Date Account Titles and Explanation Debit Credit Feb : Cash 20200 perde REDET Gift Card Liability 20000 (Cash received for pft cards) Gift Cards 1 1000 Sales Revenue HO (To record breakage 60 Mar GrCard Lubility (Gift cards redeemed for merchandise Question 1 of 1 > -122 for merchandise | Gargle Chris Cost of Goods Sold 2500 Inventory To record cost of merchandise Gin Candabil Sales Revenue (To record becake) A (Gift Cards redeemed for merchandise) (Yo record breakage) Google Chr Apr (Gift Cards redeemed for merchandise SI Te record cont of merchandise To record bre) eTextbook and Media 90 A A Question 1 of 1 -/22 teogle Chr Question Part Score How much income of any was earned in each of these months? Round answers to decimal places, 125) February March April Sales revence $ $ Cost of goods sold Gross margin 5 5 e Textbook and Media List of Accounts Question Part Score Question Part Score What liability or any would appear on the company's statement of financial position at the end of each of these month? (rund answers to decimal places... 125.) 520 Balance February 28 5 Balance Marchat 5 Balance, April 30 $ eTextbook and Media List of Accounts Question Part Score et A
