Question 36 5 pts The Bard's Books is a boutique book shop. The manager decided to sell gift cards to customers on 23 April to celebrate the 460th year since William Shakespeare's birth. He wants to build up the popularity of Shakespeare's writing for the 460th year to celebrate his life in 2024, when he anticipates huge interest in sales of Shakespeare's works. For the next 2 years he will promote his book shop with special gift cards by selling 100 of the $50 gift cards to customers in each year on the same date. The gift cards are valid for up to twelve months from date of purchase and can only be used for purchase of Shakespeare's writings from The Bard's Books. The customer cannot obtain a cash reimbursement for unspent amounts on unused cards and, as a condition of purchase, any unspent amounts after the twelve months are retained by the company. Based on industry experience, The Bard's Books expects 15% of the gift card's value to expire unused. Required: 1. Prepare the general journal entries to record the sale of the gift cards on 23 April 2022, assuming all are sold. 2. On 30 June 2022, 60 of the gift cards had been redeemed. Record the general journal entry to record the revenue earned up to 30 June 2022. 3. Between 23 April 2022 and 23 April 2023, The Bard's Books has redeemed a total of 85 of the gif vouchers. Prepare the general journal entries to record revenue between 30 June 2022 and 23 April 2023. (1+2+2=5 marks)