Upstart Cinemas offers a loyalty program to its customers 5 loyalty point for every $ They get During the month of June Points can be redeemed at 1 they spend at their locations member customer spent 100 point for $185 000 at their locations around the country $1 of credit at their locations Historically, an average of 70% of points earned are redeemed. a) record the accumulation of points earned by customer during the month date description June 30th DR Cr Points Earned Points Redeemed b) During the month of July, members purchased $170,000 dollars worth of Merchandise Using 250,000 points, with the remainder paid in cash. date july 31th description DR Cr Estimated Redeemed Value Extended Warranty Company X Sells Company X Sells 3 year extended warrantees to customer as further protection to its customers on each TV sold 2400 extra 3 year warrantees to its customers on $270 each a) record the sale of extra warranty coverage in the book of date Jan 1st description DR Jan 1st for Company on Jan 1st Cr b) record the adjustment at the end of the first year to update the books of the company assuming that no claims were made on the extra warranty date description