Peterson Photoshop sold $1,700 in gift cards on a special promotion on October 15,2021 , and sold $2,550 in gift cards on another special promotion on November 15,2021 . Of the cards sold in October, $170 were redeemed in October, $425 in November, and $510 in December. Of the gift cards sold in November, $255 were redeemed in November and $595 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 12/31/2021, Peterson would show a deferred revenue account for the gift cards with a balance of: $1,700. $2,550. $2,295