Peterson Photoshop sold $1,500 in gift cards on a special promotion on October 15, 2021, and sold $2,250 in gift cards on another special promotion on November 15, 2021. Of the cards sold in October, $150 were redeemed in October, $375 in November, and $450 in December of the gift cards sold in November, $225 were redeemed in November and $525 were redeemed in December. Peterson views the probability of redemption of a gift card as remote if the card has not been redeemed within two months. At 12/312021, Peterson would show a deferred revenue account for the gift cards with a balance of Multiple Choice $0 $2.250 $1500 $2,025