Current Attempt in Progress

Presented below are selected transactions of Sheffield Restaurant for the month ending August $31,2025.$

a$.$ Sheffield sells $90$ gift cards at $$78$ per gift card and $55$ of the gift cards are redeemed by year end. It is estimated that $10$ of the gift cards will not be redeemed.

b$.$ Sheffield accepted a reservation for its private dining room for a rehearsal dinner in September. It received a security deposit of $$300,$ which will be returned after the dinner is held.

Prepare entries for the Sheffield transactions. $($If no entry is required, select $"$No Entry" for the account titles and enter Ofor the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record entries in the order displayed in the problem statement. List all debit entries before credit entries. Round intermediate calculations to $2$ decimal places, e$.$g$.15\mathrm{.}25\%$ and final answers to $0$ decimal places, e$.$g$.5,125.)$