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Vail is one of the largest ski resorts in the United States. Suppose that on...

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Accounting

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Vail is one of the largest ski resorts in the United States. Suppose that on October 1, 2021, Vail sells gift cards (lift passes) for $100,000. The gift cards are redeemable for one day of skling during the upcoming winter season. The gift cards expire on April 1, 2022. Customers redeem gift cards of $20,000 in December. $30,000 in January, $25,000 in February, and $15,000 in March Required: 1.-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.) View transaction list Journal entry worksheet 1 2 3 4 Record the sale of gift cards on October 1, 2021. Note: debit Debit Credit Account Title Date October 01 2021

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