Mellie Lynne Gifts $($MLG$)$ sells $$75,000$ of gift certificates in the last two months of the year. MLG has a December $31$ year end and $25\%$ of the gift certificates are redeemed in December before year$-$end.

The adjusting journal entry that MLG will make at the end of December is:

a$.$

DR Deferred gift card revenue $$18,750$; CR Gift card revenue $$18,750$

b$.$

DR Gift card revenue $$56,250$; CR Deferred gift card revenue $$56,250$

c$.$

DR Revenue $$18,750$; CR Deferred gift card revenue $$18,750$

d$.$

DR Gift card revenue $$18,750$; CR Deferred gift card revenue $$18,750$