Listed below are selected transactions of Schultz Department Store for the current year ending December 31. 1. On December 5 , the store received $500 from the Selig Players as a deposit to be returned after certain furniture to be used in stage production was returned on January 15. 2. During December, cash sales totaled $798,000, which includes the 5% sales tax that must be remitted to the state by the fifteenth day of the following month. 3. On December 10 , the store purchased for cash three delivery trucks for $120,000. The trucks were purchased in a state that applies a 5% sales tax. 4. The store sold 25 gift cards for $100 per card.At year-end, 20 of the gift cards are redeemed. Schultz expects three of the cards to expire unused. Prepare all the journal entries necessary to record the transactions noted above as they occurred and any adjusting journal entries relative to the transactions that would be required to present fair financial statements at December 31. Date each entry. For simplicity. assume that adjusting entries are recorded only once a year on December 31. (Ignore Cost of Goods Sold.) (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries. Round intermediate calculations to 4 decimal places, es 0.2345 and fimal answer to 0 decimal olaces eg 21324 1 Date Account Titles and Explanation Debit Credit Dec 5 Cash 500 Refundable Deposit Liability Dec1.31 Cash 798000 Sales Revenue 758100 Sales Taxes Payable \begin{tabular}{|r|} \hline \\ \hline \\ \hline \\ \hline \end{tabular} Dec 10 Trucks 126000 Cash 126000 3sec31Y Cash 2500 Unearned Gift Card Revenue 2500 (To record sale of 25 gift cards) Sec31 Cash 2300 Unesmed Gift Card Revenue \begin{tabular}{|r|r|} \hline 2300 & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} (To record redemption and expected breakage revenue)