70.2K

Verified Solution

Question

Accounting

need all completed please
image
image
image
image
Vall is one of the largest ski resorts in the United States. Suppose that on October, 1, 2024, Vail selis gift cards (lift. passes) for $104,000. The gift cards are redeemable for one day of sking during the upcoming winter season. The gift cards expire on April 1, 2025. Customers redeem gift cards of $20,400 in December, $30,400 in January, $25,400 in February, and $15,400 in March. Required: 1. to 4. 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.) Journal entry worksheet 4 Record the sale of gift cards on October 1,2024. Note: Enter deblts before credits. Vail is one of the largest ski resorts in the United States. Suppose that on October, 1, 2024, Vall sells gift cards (ilft passes) for $104,000. The gift cards are redeemable for one day of skiing during the upcoming winter season. The gift: cards expire on April 1, 2025. Customers redeem gift cards of $20,400 in December, $30,400 in January, $25,400 in February, and $15,400 in March. Required: 1. to 4. 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.) Journal entry worksheet Record the redemption of gift cards as of December 31,2024. Note: Enter debits before credits, Vail is one of the largest ski resorts in the United States. Suppose that on October, 1, 2024, Vail sells gift cards (llit passes) for $104,000. The gift cards are redeemable for one day of skiing during the upcoming winter season. The gift cards expire on April 1, 2025. Customers redeem gift cards of $20,400 in December, $30,400 in January, $25,400 in February, and $15,400 in March. Required: 1. to 4. 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.) Journal entry worksheet Record the redemption of gift cards in 2025 by preparing a summary entry as of March 31,2025 . Note: Enter debits before credits. Exercise 8-11 (Algo) Record gift card transactions (LO8-4) Vail is one of the largest ski resorts in the United States. Suppose that on October, 1, 2024, Vall sells gift cards (lift passes) for $104,000. The gift cards are redeemable for one day of skiing during the upcoming winter season. The gift cards expire on April 1, 2025 . Customers redeem gift cards of $20,400 in December, $30,400 in January, $25,400 in February, and $15,400 in March. Required: 1. to 4. 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.) Journal entry worksheet

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students