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Apple Inc. is the number one online music retailer through its iTunes music store. Apple sells iTunes gift cards in S15, $25. and $50 increments. Assume Apple sells $20.7 million in iTunes gift cards in November, and customers redeern 5137 million of the gift cards in December Required: 1. & 2. Record the necessary entries in the Journal Entry Worksheet below. (if no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field. Enter your answers in dollars, not in millions (ie. 5.5 should be entered as 5,500,000).) View transaction list Journal entry worksheet Record the receipt of cash for gift cards. Note: Enter debits before credits General Journal Debit Credit Required: 1. & 2. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions (i.e. 5.5 should be entered as 5,500,000).) View transaction list Journal entry worksheet 2 Record the revenue recognized from redemption of gift cards. Note: Enter debits before credits Date General Journal Debit Credit December 31 Required information (The following information applies to the questions displayed below) Apple Inc. is the number one online music retailer through its iTunes music store. Apple sells iTunes gift cards in $15, $25. and $50 increments. Assume Apple sells $20.7 million in iTunes gift cards in November, and customers redeem $137 million of the gift cards in December 3. What is the ending balance in the Deferred Revenue account? (Enter your answer in dollars, not in millions. (l.e. 5.5 should be entered as 5,500,000).) Ending balance

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