24.An entity produces a certain product and sells it at P 1,000 per unit. A soup bowl is offered to customers on the return of five wrappers plus a remittance of P 20. The bowl costs P 150, and it is estimated that 50 % of the wrappers will be redeemed. The data for the first year concerning the premium plan are summarized below. Sales, 10,000 units at P 1,000 each P 10,000,000 Soup bowls purchased, 3,000 units at P 150 each- P 450,000 Wrappers redeemed 8,000 Required: Prepare the Journal Entries for the above transactions of the entity.