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Presented below are two independent revenue arrangements for Buffalo Company. Respond to the requirements related to each revenue arrangement. Click here to view factor table. (a) Your Answer Correct Answer (Used) Buffalo sells 3D printer systems. Recently, Buffalo provided a special promotion of zero-interest financing for 2 years on any new 3D printer system. Assume that Buffalo sells Lyle Cartright a 3D system, receiving a $5,300 zero-interest-bearing note on January 1, 2022. The cost of the 3D printer system is $4,240. Buffalo imputes a 6% interest rate on this zero-interest note transaction. Prepare the journal entry to record the sale on January 1, 2022, and compute the total amount of revenue to be recognized in 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts. Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to 0 decimal places e.g. 58,971.) Account Titles and Explanation Debit Credit Notes Receivable 4,717 Sales Revenue (To record sales) Cost of Goods Sold 4.240 Inventory 4.1 (To record cost of goods sold (5) Buffalo sells 20 non-refundable $110 gift cards for 3D cartridges on March 1, 2022. The cartridges have a standalone selling price of $110 (cost $88). The gift cards expiration date is June 30, 2022. Buffalo estimates that customers will not redeem 10% of these gift cards. The pattern of redemption is as follows. Redemption Total March 31 50% April 30 80 June 30 85 Prepare the 2022 Journal entries related to the gift cards at March 1, March 31. April 30. and June 30. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter o for the amounts. Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to O decimal places eg. 58,971.) Date Account Titles and Explanation Debit . (To record sales of cards redeemed) (To record cost of goods sold) OL (To record sales of cards redeemed) (To record cost of goods sold) Date Account Titles and Explanation Debit Debit (To record sales of cards redeemed) [ (To record cost of goods sold) (To record sales of cards redeemed) (To record cost of goods sold) (To record sales of cards redeemed) (To record cost of goods sold) [ (To record sales of cards not redeemed)