The following selected transactions relate to liabilities of Chicago Glass Corporation for 2018. Chicago's fiscal year ends on December 31 1. On January 15, Chicago received $6,100 from Henry Construction toward the purchase of $57,000 of plate glass to be delivered on February 6. 2. On February 3, Chicago received $5,800 of refundable deposits relating to containers used to transport glass components. 3. On February 6, Chicago delivered the plate glass to Henry Construction and received the balance of the purchase price. 4. First quarter credit sales totaled $610,000. The state sales tax rate is 4% and the local sales tax rate is 2%. Required: Prepare journal entries for the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) The following facts relate to gift cards sold by Sunbru Coffee Company during 2018. Sunbru's fiscal year ends on December 31 (a.) In October 2018, sold $3,200 of gift cards, and redeemed $520 of those gift cards. (b.) in November 2018, sold $4,200 of gift cards, and redeemed $1,420 of October gift cards and $720 of November gift cards. (c.) In December 2018, sold $3,200 of gift cards, and redeemed $220 of October gift cards, $2,200 of November gift cards, and $420 of December gift cards. (d.) Sunbru views a gift card to be broken" (with a remote probability of redemption) two months after the end of the month in which it is sold. Thus, an unredeemed gift card sold at any time during July would be viewed as broken as of September 30. Required: 1. Prepare all journal entries appropriate to be recorded only during the month of December 2018 relevant to gift card sales, gift card redemptions, and gift card breakage. 2. Determine the balance of the deferred revenue liability to be reported in the December 31, 2018, balance sheet. Prepare the relevant T-account information to support your answer. Complete this question by entering your answers in the tabs below. General Journal Gift Card Revenue Taccount Prepare the relevant T-account information to support your answer. Deferred Gift Card Revenue Beg. Bol End. Bal ( Gift Card Revenue The following facts relate to gift cards sold by Sunbru Coffee Company during 2018, Sunbru's fiscal year ends on December 31 (a) in October 2018, sold $3.200 or gift cards, and redeemed $520 of those gift cards. () in November 2018, sold $4.200 of gift cards, and redeemed $1420 of October gift cards and $720 of November gift cards (c) in December 2018, sold $3,200 of gift cards, and redeemed $220 of October gift cards, $2,200 of November gift cards, and $420 of December gift cards. (d) Sunbru views a gift card to be broken with a remote probability of redemption) two months after the end of the month in which it is sold. Thus, an unredeemed gift card sold at any time during july would be viewed as broken as of September 30 Required: 1. Prepare all journal entries appropriate to be recorded only during the month of December 2018 relevant to gift card 2. Determine the balance of the deferred revenue ability to be reported in the December 31, 2018, balance sheet. Prepare the relevant T-account information to support your answer. Complete this question by entering your answers in the tabs below. General Journal Gift Card Revenge Taccount Prepare all journal entries appropriate to be recorded only during the month of December 2018 relevant to gift card sales, gift car redemptions, and gift card breakage. (If no entry is required for a transaction/event, select "No journal entry required in the firs account held.) View transaction at Journal entry worksheet 1 2 3 Record the sales of the gift cards at December 2018 Note: debits before credits Transaction General Journal Debat Credit Record entry Clear entry View general journal Diversified Industries sells perishable electronic products. Some must be shipped in reusable containers. Customers pay a deposit for each container . The deposit is equal to the container's cost. Customers receive a refund when the container is returned. During 2018, deposits collected on containers shipped were $620,000. Deposits are forfeited if containers are not returned in 18 months. Containers held by customers on January 1, 2018, were $250,000. During 2018. $330,000 was refunded and deposits of $21,000 were forfeited. Required: 1. Prepare the appropriate journal entries for the deposits received and returned during 2018 2. Determine the liability for refundable deposits to be reported in the December 31, 2018, balance sheet. Complete this question by entering your answers in the tabs below. Required 1 Reafired 2 Determine the liability for refundable deposits to be reported in the December 31, 2018, balance sheet. (Amounts to be deducted should be indicated with a minus sign.) Balance Sheet (partial) At December 31, 2018 Balance, Dec. 31 $ 0