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Watermelon sells gift cards in $15,$25, and $50 increments. Assume Watermelon sells $19.4 million in...

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Accounting

Watermelon sells gift cards in $15,$25, and $50 increments. Assume Watermelon sells $19.4 million in iTunes gift cards in November, and customers redeem $12.4 million of the gift cards in December.
Required:
& 2. Record the necessary entries in the Journal Entry Worksheet below.
What is the ending balance in the Deferred Revenue account?
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