(Solved): Nash Taco Palace sells 320 gift cards at $60 per gift card and 160 of the gift cards are redeemed b ...

Nash Taco Palace sells 320 gift cards at $$\$60$$ per gift card and 160 of the gift cards are redeemed by year-end. Nash estimates that it will have $$10\%$$ breakage on its gift cards. Prepare the entry for the gift card redemption and the expected breakage for the gift cards in the current year. (Ignore Cost of Goods Sold.) (If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. Credit occount titles are automatically indented when amount is entered. Do not indent manuolly. List oll debit entries before credit entries. Round intermediote calculations to 4 decimal places, eg $$0.2456$$ and final answers to 0 decimal ploces, eg. 5,125 )