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2024 3. 4. 5. (Received cash in advance from customer.) (8) (To record redemption of gift cards.) Indicate if the following activities will increase, decrease, or have no effect on each of revenues, expenses, and profit: What balances will be included incurrent liabilities at December 31, 2023 and 2024, regarding the customer loyalty program and gift cards? (Round answers to 0 decimal places, eg. 5275.) \begin{tabular}{l|l|l|} & December 31, 2024 December 31, 2023 \\ \hline Unearned Revenue - Loyalty Program & $ & \\ \hline & & \end{tabular} Record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and the amounts. List all debit entries before credit entries. Round answers to 0 decimal places, e.g. 5275. Do not round intermediate calculations.) Kingbird Stores started a customer loyalty program at the beginning of 2023 in which customers making cash purchases of gasoline at Kingbird Gas Bars are issued rewards in the form of groce For each litre of gasoline purchased, the customer gets a grocery coupon for 3.60 cents that can be redeemed in Kingbird Food Stores. The coupons have no expiry date. Kingbird Stores began cards in 2024 that do not have expiry dates. The following are selected transactions in 2023 and 2024 : 1. In 2023 , the Gas Bars sold 3.50 million litres of gasoline resulting in gas sales of $4,200,000. Grocery coupons were issued with these sales. The expected redemption rate for the grocer 73%. 2. In 2023 , customers redeemed $47,800 of the grocery coupons in the Food Stores. 3. In 2024 , the Gas Bars sold 4.50 million litres of gasoline resulting in gas sales of $5,850,000. Grocery coupons were issued with these sales. The expected redemption rate for the grocer 80%. 4. In 2024 , customers redeemed $56,200 of the grocery coupons in the Food Stores. 5. In 2024 , customers purchased $87,400 of gift cards, and $47,700 of the revenue from gift card sales was to be recorded by the end of the year

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