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Vail is one of the largest ski resorts in the United States. Suppose that on October 1 , 2 0 2 4 , Vail sells
Vail is one of the largest ski resorts in the United States. Suppose that on October Vail sells gift cards lift passes for $ The gift cards are redeemable for one day of skiing during the upcoming winter season. The gift cards expire on April Customers redeem gift cards of $ in December, $ in January, $ in February, and $ in March.
Required:
to Record the necessary entries in the Journal Entry Worksheet below. If no entry is required for a particular transactionevent select No Journal Entry Required in the first account field.
Journal Entry Worksheet
Recor the sales of gift cards on October
Record the redemption of gift cards as of December
Record the redemption of gift cards in by preparing a summary entry as of March
record the expiration breakage of gift cards on April
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