Rikards Menswear sells $5,125 of gift cards for cash in December 2021. Rikards has a December 31 fiscal year end and uses a perpetual inventory system. In January 2022, $2,795 of the gift cards are redeemed for merchandise with a cost of $1,220. Prepare journal entries for Rikards for December 2021 and January 2022 assuming all gift card balances will be redeemed. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 2021Jan. 2022
	(To record sale of gift cards.)
Dec. 2021Jan. 2022
	(To record sales and redemption of gift cards.)
Dec. 2021Jan. 2022
	(To record cost of goods sold.)