Exercise $8-11($Algo$)$ Record gift card transactions $($LO$8-4)$

Vail is one of the largest ski resorts in the United States. Suppose that on October $1,2024,$ Vail sells gift cards $($lift passes$)$ for $$102,000.$

The gift cards are redeemable for one day of skiing during the upcoming winter season. The gift cards expire on April $1,2025.$

Customers redeem gift cards of $$20,200$ in December, $$30,200$ in January, $$25,200$ in February, and $$15,200$ in March.

Required:

to $4.$ 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.$)$

Answer is complete but not entirely correct.