Peterson Photoshop sold $2,900 in gift cards on a special promotion on October 15,2024 , and sold $4,350 in gift cards on another special promotion on November 15 , 2024 . Of the cards sold in October, $290 were redeemed in October, $725 in November, and $870 in December. Of the gift cards sold in November, $435 were redeemed in November and $1,015 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 12/31/2024, Peterson would show a deferred revenue account for the gift cards with a balance of: Multiple Choice $4,350. $3,915. $0. $2,900