Texas Roadhouse opened a new restaurant in October. During its first three months of operation, the restaurant sold gift cards in various amounts totaling $3,00. The cards are redeemable for meals within one year of the purchase date. Gift cards totalling $832 were presented for redemption during the first three months of operation prior to year-end on December 31 . The sales tax rate on restaurant sales is 4%, assessed at the time meals (not gift cards) are purchased. Texas Roadhouse will remit sales taxes in January. Required: 1. \& 2. Record (in summary form) the $3,100 in gift cards sold (keeping in mind that, in actuality, the company would record each sale of a gift card individually) and the $832 in gift cards redeemed. (Hint The $832 includes a 4% sales tax of $32 ) 3. Determine the balance in the Deferred Revenue account (remaining lability for gift cards) Texas Roadhouse will report on the December 31 balance sheet. Record (In summary form) the $3,100 in gift cards sold (keeping in mind that, in actuality, the company would record each sale of a gift card individually) and the $832 in gift cards redeemed. (Hint: The $832 includes a 4% sales tax of $32 ) (If no entry if required fol a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the $3,100 in giftlcards sold: Note: Enter detits before credits. Journal entry worksheet Record the $832 in gift cards redeemed. (Hint: The $832 includes a 4% sales tax of \$32.) Note: Enter debits before credits. Complete this question by entering yourlanswers in the tabs below. Determine the balance in the Deferred Revenue account (remaining liability for gift cards) Texas Roadhouse will report on the December 31 balance sheet