Vail is one of the largest ski resrots in the United States. Suppose that on October 1, 2024. Vail sells gift cards (lift passes) for $109,000. The gift cards are redeemable for one day of skiing during the upcomming winter season. The gift cards expire on April1, 2025. Customers redeem gift cards of $20,900 in December. $30,900 in January. $25,900 in February and $15,900 in march

Record the sale of gift cards on October 1 2024

Record the redemption of gift cards as of December 31, 2024

Record the redemption of gift cards by preparing a summary entry as of March 31, 2025

Record the expiration ( breakage) of gift cards on April, 2025