Ayayai Corp. offers its customers a $5-$piece knife set in exchange for $$10$ and the purchase of its CC Cookware set. The company

purchased $2,960$ units of the $5-$piece knife sets at $$15$ each. It estimates that $70\%$ of customers will participate in the promotion and

that $5\%$ of the amount received from customers relates to the awarded premiums. In $2024,$ the company sold $4,350$ cookware sets at a

sales price of $$114$ resulting in sales revenue of $$495,900.$ By the end of the year, $2,470$ customers took advantage of the promotion.

Prepare the appropriate journal entries assuming Ayayai follows IFRS and uses the revenue approach. Ignore any cost of goods sold

entry. $($Do not round intermediate calculations. Round answers to $0$ decimal places, e$.$g$.5,125.$ Credit account titles are automatically indented

when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select $"$No Entry" for the

account titles and enter $0$ for the amounts.$)$

Account Titles and Explanation

$($To record purchase of premiums$)$

$($To record cash sales$)$

$($To record redemption for premiums$)$

$($To recognize sales revenue$)$