Apple Inc. is the number one online music retailer through its iTunes music store. Apple sells iTunes gift cards in $15, $25, and $50 increments. Assume Apple sells $19.8 million in iTunes gift cards in November, and customers redeem $12.8 million of the gift cards in December. Required:
a. Record the receipt of cash for gift cards.
b. Record the revenue earned from redemption of gift cards.
c. What is the ending balance in Deferred revenue?

Which of the following is likely not a benefit of requiring a grand jury to listen to and examine all of the evidence against a person suspected of committing a serious crime and then independently deciding whether or not to hand down an indictment? 1.the grand jury system provides the accused another safeguard against being sent to trial and facing conviction based on flawed evidence. 2.the members of the grand jury are drawn from the community and are empowered to render independent decisions about whether or not the government has collected enough evidence to bring an individual to trial. 3.the grand jury’s decision can provide prosecutors insight into what is necessary to build a sufficient case if a similar crime is presented later. 4.the grand jury is impaneled to rubber-stamp prosecutors’ cases, which makes it possible for more cases to reach trial.