The forthcoming postulates tell to grant cards sold by Sunbru Coffee Company during 2011. Sunbru’s fiscal year purposes on December 31.
(a.) In October, 2011 sold $3,000 of grant cards, and redeemed $500 of those grant cards.
(b.) In November, 2011, sold $4,000 of grant cards, and redeemed $1,400 of October grant cards and $700 of November grant cards.
(c.) In December, 2011, sold $3,000 of grant cards, and redeemed $200 of October grant cards, $2,000 of November grant cards, and $400 of December grant cards.
(d.) Sunbru views a grant card to be “broken” (with a heterogeneous presumption of ransom) span months following the purpose of the month in which it is sold. Thus, an unredeemed grant card sold at any era during July would be viewed as tedious as of September 30.
1. Prepare whole journal entries misapply to be commemorative singly during the month of December, 2011 appropriate to grant card sales, grant card ransoms, and grant card breakage.
2. Determine the weigh of the unearned enrichment amenability to be reported in the December 31, 2011, weigh quibble. Show the appropriate T-account advice to patronage your answer
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