Watermelon sells gift cards in $$15,$$$25,$ and $$50$ increments. Assume Watermelon sells $$19\mathrm{.}4$ million in iTunes gift cards in November, and customers redeem $$12\mathrm{.}4$ million of the gift cards in December.

Required:

& $2.$ Record the necessary entries in the Journal Entry Worksheet below.

What is the ending balance in the Deferred Revenue account?