Ansara Grocers, Inc. offered its customers a free baking pan in exchange for $50$ green stickers. Customers earn $1$ green

sticker for each $$8$ of groceries purchased at Ansara during $2022.$ During $2022,$ Ansara purchased with cash $2,470$

baking pans at $$14$ each and sold $$4\mathrm{.}1$ million of groceries. Ansara expects about $28\%$ of its customers to redeem the

stickers. In $2023,$ consumers redeemed $120,000$ stickers.

Requirement

Provide all necessary journal entries related to the baking pan offer. $($Record debits first, then credits. Exclude

explanations from any journal entries.$)$

Prepare the journal entry for the purchase of the baking pan inventory.