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Required information [The following information applies to the questions displayed below.) A company is the number one online music retailer through its iTunes music store. The company sells iTunes gift cards in $15, $25, and $50 increments. Assume the company sells $19.9 million in iTunes gift cards in November, and customers redeem $12.9 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 (i.e. 5.5 should be entered as 5,500,000).) View transaction list Journal entry worksheet 1 2 Record the receipt of cash for gift cards. 20 O ! Required information [The following information applies to the questions displayed below.) A company is the number one online music retailer through its iTunes music store. The company sells iTunes gift cards in $15, $25, and $50 increments. Assume the company sells $19.9 million in iTunes gift cards in November, and customers redeem $12.9 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. (.e. 5.5 should be entered as 5,500,000).) 5 Ending balance 20 FZ F3 F4

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