Cheyenne Corporation sold Sugar Frosted Cocoa Bombs, a children's breakfast cereal. As a promotion, Cheyenne offered its customers a free music CD in exchange for 4 boxtops, plus $3.10 to cover postage and handling, The CD cost Cheyenne $3.35, and postage costs to mail the CDs out to customers were $2.50. Cheyenne estimated that 70% of its customers would redeem bostops Cheyenne purchased 11,400 CDs at the start of the promotion in November, 2020. 120,000 boxes of cereal were sold during November and December, 2020, and Cheyenne's year-end was December 31. Prior to the end of the fiscal year, 7.700 customers took advantage of the offer, which continued until February, 2021. Cheyenne follows ASPE and uses the expense approach to account for its premiums Prepare the journal entry to record the purchase of the promotional CDs. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Prepare the journal entry to record the redemption by 7,700 customers. (Credit account titles are automatically indented when the amount is entered. Do not indent manually if no entry is required select "No Entry' for the account titles and enter O for the amounts) Account Titles and Explanation Debit Credit 80 888 esc S 4 6 MacBook Pro 17 I 8 9 0 Prepare the journal entry to record the redemption by 7,700 customers. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select " Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit Prepare the journal entry to record the year-end accrual entry for estimated premium expense. (Credit account titles are automatically indented when the amount is enterest. De not indent manually if no entry is required, select "No Entry" for the account titles and enter O for the amounts) esc Account Titles and Explanation 2 80 888 % 5 Debit Credit MacBook Pro O