Problem 8-6B Record deferred revenues and sales taxes (LO8-4) 2. points Book Logan's Roadhouse opened a new restaurant in November. During its first two months of operation, the restaurant sold gift cards in various amounts totaling $1,450. The cards are redeemable for meals within one year of the purchase daten cards totaling $636 were presented for redemption during the first two months of operation prior to year end on December 31. The sales tax rate on restaurant sales is 6%, assessed at the time meals (not gift cards) are purchased. Logan's will remit sales taxes in January Required: 1. & 2. Record in summary form) the $1.450 in gift cards sold (weeping in mind that, in actuality, each sale of a gincard or a meal would be recorded individually and the $636 in gift cards redeemed. (Hint The 5636 Includes a 6% sales tax of 536) Of no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) Die References View transactions Journal entry worksheet 1 2 Journal entry worksheet