Logan's Roachouse opened a new restautant in November, During its first two moners of operation, the restaurant sold ght cards in Various amounts totaling $2,050. The cards are redeemable for meals within one year of the purchese date. GA cards totaling $636 were presented for redertiption during the first two mocths of operation prior to year-end on December 31 . The sales tar rase on Required: 2. \& 2. Recerd (in summary form) the $2.050in pit cards sold peeping in mind that, in actuolty, eoch sole of a git card or a meal would be recorded ind /vidually and the $636 in gin cards redeemed. (4hint The $636 includes a 6% sales tax of $3.6 ) 3. Determine the balance in the Deferred Aovenne account (Vembining lability for gitt cands) to be teported on the December at balance sheet Complete this question by entering your answers in the tabs below. Recerd (in sumnary form) the $2,050 in git cards sold (kerping in mind that, in actuality, each sule of a git card or a meat moult be Journal entry worksheet 2 Record the $2,050 in girt cands sola. Logan's Roadhouse opened a new restaurant in Novembec, During its first two months of operation, the restaurant soid git cards in various amounts totalling $2,050. The cards are redeemable for meals within one year of the purchase date. Gint cards totalling $636 were presented for redemption during the first two months of operation prior to yoar-end on December 31. The saics tax rate on restaurant sales is 6%, assessed at the time meals (not git cards) are purchased. Logan's will remit sales taxes in January. Required: 1. \& 2. Record (in summary form) the $2,050 in gift cards sold (keeping in mind that, in actuslity, each sale of a gift card or a meal would be recorded individually) and the $636 in gift cards redeemed. (Hint The $636 includes a 6% sales tax of $36. ) 3. Determine the balance in the Deferred Revenue account (remaining liability for gift cards) to be reported on the December 31 balance sheet. Complete this question by entering your answers in the tabs below. Determine the balance in the Deferred Revenue account (remaining labblity for gift cards) to be reported on the December 31 bolance sheet