Sarah's Pottery and Gift store had the following transactions: o. On November 15, 2023. Katie...
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Sarah's Pottery and Gift store had the following transactions: o. On November 15, 2023. Katie from the small office business Custom Graphics contacted Sarah to purchase gift cards for the hollday season. Katie's boss gave her $1,350 to purchase 15 gift cards with a value of $90 each from Sarah. b. During the month of December, 5 of the $90 gift cards were used in full by staff members of Custom Graphics. Required: 1-a. Prepare the journal entries for each of the transactions. Journal entry worksheet 1-b. Calculate the liability that will remain on the December 31, 2023 balance sheet for Sarah's Pottery and Asift Store. (Round the final onswer to the nearest whole dollar amount.)
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