Policies Show Attempt History Current Attempt in Progress Save-Always Stores started a customer loyalty program at the beginning of 2020 in which customers making cash purchases of gasoline at Save-Always Gas Bars are issued rewards in the form of grocery coupons. For each litre of gasoline purchased, the customer gets a grocery coupon for 3.20 cents that can be redeemed in Save-Always Food Stores. The coupons have no expiry date. Save-Always Stores began selling gift cards in 2021 that do not have expiry dates. The following are selected transactions in 2020 and 2021: 1. 2. 3. 4. 5. In 2020, the Gas Bars sold 3.70 million litres of gasoline resulting in gas sales of $4,440,000. Grocery coupons were issued with these sales. The expected redemption rate for the grocery coupons is 80%. In 2020, customers redeemed $51,800 of the grocery coupons in the Food Stores. In 2021, the Gas Bars sold 4.70 million litres of gasoline resulting in gas sales of $6,110,000. Grocery coupons were issued with these sales. The expected redemption rate for the grocery coupons is 84%. In 2021, customers redeemed $55,600 of the grocery coupons in the Food Stores. In 2021, customers purchased $86.200 of gift cards, and $47.100 of the revenue from gift card sales was to be recorded by the end of the year. MacBook Pro Record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts. Round answers to O decimal places, eg. 5275) Date Account Titles and Explanation 2020 1. (To record sales and uneamed revenue related to loyalty program.) 2021 (To record redemption of rewards.) 3. MacBook Pro Debit Credit 2021 3. 5. (To record sales and unearned revenue related to loyalty program.) (To record redemption of rewards.) (Received cash in advance from customer.) MacBook Pro 5. (To record sales and unearned revenue related to loyalty program.) (To record redemption of rewards.) (Received cash in advance from customer) (To record gift card sales.) MacBook Pro Question 3 of 4 (c) 6.25/25 E What balances will be included in current liabilities at December 31, 2020 and 2021, regarding the customer loyalty program and gift cards? (Round answers to O decimal places, eg. 5275) December 31, 2020 December 31, 2021 Unearned Revenue-Loyalty Program Unearned Revenue-Gift Cards eTextbook and Media List of Accounts Save for Later Using multiple attempts will impact your score. 40% score reduction after attempt 4 Machack Pro Attempts: 0 of 5 used Submit