Question 16 (14 points) Coffee Inc sells 50 non-refundable gift $50 gift cards for books that have a selling price of $50 and a cost of $35 on January 1st, 2020. The gift cards have an expiry date of June 30th, 2020. Coffee estimates that 5% of these gift cards will not be redeemed. The pattern of redemption follows: Date January 31st, 2020 March 31st, 2020 June 30th, 2020 Cumulative Redemption Rate to Date 50% 70% 90% Prepare the required Journal Entries for the following dates: January 1, 2020, January 31, 2020, March 31, 2020, June 30, 2020