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Can you please help me to solve this question and Answer 1-3? Question 1 Meadows Undone Inc. (MUI) produces and sells lawnmowers. To encourage sales

Can you please help me to solve this question and Answer 1-3?

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Question 1 Meadows Undone Inc. (MUI) produces and sells lawnmowers. To encourage sales of a new type of mower, MUI offered a rebate program to end-consumers. The rebate is $51 per mower and can be claimed online. Additional information is as follows: (a) During the promotional period, MUI sold 10,000 mowers to distributors (wholesalers) who offered the rebate to their end-consumers. The wholesale price was $350 per unit while the cost of goods sold was $185 per unit. The distributors sold the units to end-consumers at an average price of $425 per unit. (b) MUI estimated that 55% of the end-consumers would take advantage of the rebate offer. (c) The actual redemption rate was 60%. REQUIRED 1. Prepare a summary journal entry to record the sales of the lawnmowers to the distributors during the promotional period. Assume that all sales were on credit. 2. Prepare a summary journal entry to record the receipts of the rebate claims from the end-consumers and the related payment of the rebate amounts. 3. After recording all of the applicable journal entries, how much gross profit should have been reported by MUI

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