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Required information Exercise 8-10A Analyze and record deferred revenues (LO8-4) [The following information applles to the questions oisplayed beiow] Appie inc. is the number one

image text in transcribed Required information Exercise 8-10A Analyze and record deferred revenues (LO8-4) [The following information applles to the questions oisplayed beiow] Appie inc. is the number one onilne muslc retaller through its ITunes muslc store. Apple sells ITunes glft cards in \\$15, \\$25, and \\( \\$ 50 \\) increments. Assume Apple sells \\( \\$ 20.9 \\) million in iTunes gift cards in November, and customers redeem \\$13.9 million of the gift cards in December. kercise 8-10A Parts \\( 1 \\& 2 \\) tquired: \\& 2 Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transoction/ovent, lect \"No Journal Entry Required\" in the first account fleld. Enter your answers in dollors, not in millions (l.e. 5.5 should be itered as 5,500,000).) Journal entry worksheet 2 Exercise 8-10A Part 3 3. What is the ending balance in the Deferred Revenue account? (Enter your answer in dollars, not in millions. (i.e. 5.5 should be entered as \\( 5,500,000) \\).)

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