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Required Information [The following information applies to the questions displayed below.) Apple Inc. is the...

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Accounting

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Required Information [The following information applies to the questions displayed below.) Apple Inc. is the number one online music retaller through its iTunes music store. Apple sells ITunes gift cards in $15. $25 and $50 increments. Assume Apple sells $20.4 million in iTunes gift cards in November, and customers redeem $13.4 million of the gift cards in December Required: 1. & 2. 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. Enter your answers in dollars, not in millions (l.e. 5.5 should be entered as 5,500,000).) View transaction list Journal entry worksheet

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