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Sarah's Pottery and Gift store had the following transactions: a. On November 15, 2023, Katie from the small office business Custom Graphics contacted Sarah to

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Sarah's Pottery and Gift store had the following transactions: a. On November 15, 2023, Katie from the small office business Custom Graphics contacted Sarah to purchase gift cards for the holiday season. Katie's boss gave her $2,250 to purchase 25 gift cards with a value of $90 each from Sarah. b. During the month of December, 20 of the $90 gift cards were used in full by staff members of Custom Graphics. Required: 1-a. Prepare the journal entries for each of the transactions. 2 Record the 20 gift cards redeemed in December. Note : - journal entry has been entered 1-b. Calculate the liability that will remain on the December 31, 2023 balance sheet for Sarah's Pottery and Gift Store. (Round the fine answer to the nearest whole dollar amount.)

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