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Required information {The following information applies to the questions displayed below) Apple Inc. is the number one online music retailer through its iTunes music store.
Required information {The following information applies to the questions displayed below) Apple Inc. is the number one online music retailer through its iTunes music store. Apple sells iTunes gift cards in $15, $25. and $50 increments. Assume Apple sells $197 million in iTunes gift cards in November, and customers redeem $12.7 million of the gift cards in December Required: 1. & 2. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a transaction/event, select "No Journal entry required in the first account field. Enter your answers in dollars, not in millions fi.e.5.5 should be entered as 5,500,000).) View transaction list Journal entry worksheet 1 2 > Record the receipt of cash for gift cards. Note: Enter debits before credits General Journal Debit Credit November 30 1. & 2. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a transact journal entry required" in the first account field. Enter your answers in dollars, not in millions (l.e. 5.5 should 5,500,000).) View transaction list Book Journal entry worksheet Horences 1 2 Record the revenue earned from redemption of gift cards. Note: Enter debits before credits General Journal Debit Date December 31 Credit Record entry Clear entry View generala
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