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Problem 8-6A Record deferred revenues and sales taxes (LO8-4) Texas Roadhouse opened a new restaurant in October. During its first three months of operation, the restaurant sold gift cards in various amounts totaling $3.200. The cards are redeemable for meals within one year of the purchase date. Gift cards totaling $936 were presented for redemption during the first three months of operation prior to year-end on December 31. The sales tax rate on restaurant sales is 4%, assessed at the time meals (not gift cards) are purchased. Texas Roadhouse will remit sales taxes in January Required: 1&2 Record in summary form) the $3.200 in gift cards sold (keeping in mind that, in actuality, the firm would record each sale of a gift card individually and the $936 In gift cards redeemed (Hint The $936 includes a 4% sales tax of $36.) If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction et Journal entry worksheet 1 2 Record the cash received for gift cards. more Transaction General Journal De Credit Cash Joumal entry worksheet 2 Record the cash received for gift cards. Note: Enter Hebes before credits General Journal Debut Credit Transaction 1 Cash Record entry Clear entry View general Journal 3. Determine the balance in the Deferred Revenue account (remaining itability for gift cards) Texas Roadhouse will report on the December 31 balance sheet, Deferred Free He