Skysong Stores started a customer loyalty program at the beginning of 2023 in which customers making cash purchases of gasoline at Skysong Gas Bars are issued rewards in the form of grocery coupons. For each litre of gasoline purchased, the customer gets a grocery coupon for 2.80 cents that can be redeemed in Skysong Food Stores. The coupons have no expiry date. Skysong Stores began selling gift cards in 2024 that do not have expiry dates.

The following are selected transactions in 2023 and 2024:

1. In 2023, the Gas Bars sold 3.10 million litres of gasoline resulting in gas sales of $3,720,000. Grocery coupons were issued with these sales. The expected redemption rate for the grocery coupons is 66%.

2.

3. In 2023, customers redeemed $53,000 of the grocery coupons in the Food Stores.

4.

5. In 2024, the Gas Bars sold 5.70 million litres of gasoline resulting in gas sales of $7,410,000. Grocery coupons were issued

with these sales. The expected redemption rate for the grocery coupons is 84%.

4. In 2024, customers redeemed $57,000 of the grocery coupons in the Food Stores.

5. In 2024, customers purchased $89,000 of gift cards, and $48,500 of the revenue from gift card sales was to be recorded by the end of the year.

that question was wrong

this one is upadted

Dr. J. Harrin and Dr. S. Robinson have been operating a dental practice as a partnership for several years. The fixed profit and loss ratio is 60% for Dr. Harrin and 40% for Dr. Robinson. The dental practice had the following general ledger account balances at November 30, 2024, its fiscal year end:

Cash $33,170

Supplies 15,800

Equipment 172,520

Accumulated depreciation-equipment 40,600

Accounts payable 15,400

Notes payable, due 2025 54,800

J. Harrin, capital 57,700

J. Harrin, drawings 138,960

S. Robinson, capital 32,290

S. Robinson, drawings 91,990

Service revenue 415,890

Salaries expense 78,380

Office expense 81,810

Interest expense 4050

1. perepare income statement for the partnerhip

2. prepare balace sheet

3. jouranl entry

4. partners equity

Skysong Stores started a customer loyalty program at the beginning of 2023 in which customers making cash purchases of gasoline at Skysong Gas Bars are issued rewards in the form of grocery coupons. For each litre of gasoline purchased, the customer gets a grocery coupon for 2.80 cents that can be redeemed in Slysong Food Stores. The coupons have no expiry date. 5ky song Stores began selling sift cards in 2024 that do not have expiry dates. The following are selected transactions in 2023 and 2024 : 1. In 2023, the Gas Bars sold 3.10 million litres of gasoline resulting ingas sales of $3,720,000 Grocery coupons were issued with these sales. The expected redemption rate for the grocery coupons is 66% 2. In 2023, customers redeemed $53,000 of the grocery coupons in the Food $ tores. 3. In 2024, the Gas Bars sold 5.70 million litres of gasoline resulting in gas 53 les of $7.410,000. Grocery coupons were issued with these sales. The expected redemption rate for the grocery coupons is 84K. 4. In 2024 , customers redeemed $7,000 of the grocery coupons in the Food Stores. 5. In 2024, customers purchased $89,000 ot gift cards, and $48,500 of the revenue from gift card sales was to be recorded by the end of the year. Record the above transactions. (Credit account titles are automaticolly indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter 0 for the amounts, List all debit entries before credit entries: Round answers to O decimal ploces, es. 5275 . Do not round intermediate calculations. 2024 3. Cash 7,410.000 \begin{tabular}{|l} \hline Sales \\ Unearned Revenue-Loyalty Program \\ Unearned Revenue-Loyalty Proetam \\ \hline \end{tabular} 7,278,318 131,682 \begin{tabular}{l} Rievenue fromRewards Program \\ Cash \\ Uneamed Revenue \\ \hline \end{tabular} (Received cash in advance from customer) Unesried Revonue Sales (To recoed redemption of gift cards.) What balances will be included in current liabilities at December 31. 2023 and 2024, regarding the customer loyalty program and gift cards? (Round answers to 0 decimal places, e.\$. 5275.) Dr.J. Harrin and Dr. S. Robinson have been operating a dental practice as a partnership for several years. The fixed prohit and ioss ratio is 60% for Dr. Harrin and 40% for Dr. Robinson. The dental practice had the following general ledger account balances at Novtmber 30,2024 , its fiscal year end: Prepare the income statement for the partnership. Skysong Stores started a customer loyalty program at the beginning of 2023 in which customers making cash purchases of gasoline at Skysong Gas Bars are issued rewards in the form of grocery coupons. For each litre of gasoline purchased, the customer gets a grocery coupon for 2.80 cents that can be redeemed in Slysong Food Stores. The coupons have no expiry date. 5ky song Stores began selling sift cards in 2024 that do not have expiry dates. The following are selected transactions in 2023 and 2024 : 1. In 2023, the Gas Bars sold 3.10 million litres of gasoline resulting ingas sales of $3,720,000 Grocery coupons were issued with these sales. The expected redemption rate for the grocery coupons is 66% 2. In 2023, customers redeemed $53,000 of the grocery coupons in the Food $ tores. 3. In 2024, the Gas Bars sold 5.70 million litres of gasoline resulting in gas 53 les of $7.410,000. Grocery coupons were issued with these sales. The expected redemption rate for the grocery coupons is 84K. 4. In 2024 , customers redeemed $7,000 of the grocery coupons in the Food Stores. 5. In 2024, customers purchased $89,000 ot gift cards, and $48,500 of the revenue from gift card sales was to be recorded by the end of the year. Record the above transactions. (Credit account titles are automaticolly indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter 0 for the amounts, List all debit entries before credit entries: Round answers to O decimal ploces, es. 5275 . Do not round intermediate calculations. 2024 3. Cash 7,410.000 \begin{tabular}{|l} \hline Sales \\ Unearned Revenue-Loyalty Program \\ Unearned Revenue-Loyalty Proetam \\ \hline \end{tabular} 7,278,318 131,682 \begin{tabular}{l} Rievenue fromRewards Program \\ Cash \\ Uneamed Revenue \\ \hline \end{tabular} (Received cash in advance from customer) Unesried Revonue Sales (To recoed redemption of gift cards.) What balances will be included in current liabilities at December 31. 2023 and 2024, regarding the customer loyalty program and gift cards? (Round answers to 0 decimal places, e.\$. 5275.) Dr.J. Harrin and Dr. S. Robinson have been operating a dental practice as a partnership for several years. The fixed prohit and ioss ratio is 60% for Dr. Harrin and 40% for Dr. Robinson. The dental practice had the following general ledger account balances at Novtmber 30,2024 , its fiscal year end: Prepare the income statement for the partnership