i need help with this question with an explanation if why it is considered or not considered a contingent liability. thanks!

During the month of December, Department Store sold $8,000 worth of gift cards to customers. $6,200 of these cards were redeemed before the end of the year. Give all of Department's journal entries relating to gift cards, for December. Are gift cards an expense for Department? Are gift cards a contingent liability? What happens if Department Store has $150 of breakage on the gift cards? a) b) c)

During the month of December, Department Store sold $8,000 worth of gift cards to customers. $6,200 of these cards were redeemed before the end of the year. a) Give all of Department's journal entries relating to gift cards, for December. b) Are gift cards an expense for Department? Are gift cards a contingent liability? c) What happens if Department Store has $150 of breakage on the gift cards