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 3.60 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.		In 2020, the Gas Bars sold 3.90 million litres of gasoline resulting in gas sales of $4,680,000. Grocery coupons were issued with these sales. The expected redemption rate for the grocery coupons is 74%.
2.		In 2020, customers redeemed $51,400 of the grocery coupons in the Food Stores.
3.		In 2021, the Gas Bars sold 4.50 million litres of gasoline resulting in gas sales of $5,850,000. Grocery coupons were issued with these sales. The expected redemption rate for the grocery coupons is 71%.
4.		In 2021, customers redeemed $58,600 of the grocery coupons in the Food Stores.
5.		In 2021, customers purchased $92,200 of gift cards, and $50,100 of the revenue from gift card sales was to be recorded by the end of the year.

1.Indicate if the following activities will increase, decrease, or have no effect on each of revenues, expenses, and profit:

1.		Issuing grocery coupons when sales are made		Decreases revenues, expenses and profitIncreases revenues, expenses and profitDecrease revenues and profitIncreases revenues and profitNo effect on revenues, expenses and profit
2.		Redeeming grocery coupons		Decrease revenues and profitIncreases revenues and profitDecreases revenues, expenses and profitIncreases revenues, expenses and profitNo effect on revenues, expenses and profit
3.		Issuing gift cards		Decrease revenues and profitNo effect on revenues, expenses and profitDecreases revenues, expenses and profitIncreases revenues, expenses and profitIncreases revenues and profit
4.		Redeeming gift cards

2. Record the above transactions

3. What balances will be included in current liabilities at December 31, 2020 and 2021, regarding the customer loyalty program and gift cards?