Current Attempt in Progress Ivanhoe Candy Company offers a coffee mug as a premium for every ten $1 candy bar wrappers presented by customers together with $2. The purchase price of each mug to the company is $2.40; in addition, it costs $1.60 to mail each mug. The results of the premium plan for the years 2025 and 2026 are as follows (assume all purchases and sales are for cash): Coffee mugs purchased Candy bars sold Wrappers redeemed 2025 wrappers expected to be redeemed in 2026 2026 wrappers expected to be redeemed in 2027 (a) - Your answer is partially correct.

2025 720,000 2026 5,400,000 6,770,000 1,900,000 780,000 2,800,000 4,250,000 G Search or type URL 2,720,000 Prepare the general journal entries that should be made in 2025 and 2026 related to the above plan by Ivanhoe Candy. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for MacBook Pro

Ivanhoe Candy Company offers a coffee mug as a premium for every ten $1 candy bar wrappers presented by customers together with $2. The purchase price of each mug to the company is $2.40; in addition, it costs $1.60 to mail each mug The results of the premium plan for the years 2025 and 2026 are as follows (assume all purchases and sales are for cash): (a) Prepare the general journal entries that should be made in 2025 and 2026 related to the above plan by Ivanhoe Candy. (Credit occount titles are outomotically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for Ivanhoe Candy Company offers a coffee mug as a premium for every ten $1 candy bar wrappers presented by customers together with $2. The purchase price of each mug to the company is $2.40; in addition, it costs $1.60 to mall each mug The results of the premium plan for the years 2025 and 2026 are as follows (assume all purchases and sales are for cash): (a) Prepare the general journal entries that should be made in 2025 and 2026 related to the above plan by Ivanhoe Candy. (Credit account titles are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for Your answer is partially correct. Prepare the general journal entries that should be made in 2025 and 2026 related to the above plan by Ivanhoe Candy. (Credit decount 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 0 for the amounts. List all debit entries before credit entries) D. 21 (To record sale of candy bars) Cash Premium Expense Premium Inventory (To record coffee mugs offered for wrappers redeemed) Premium Expense Premium Liability (To record liabllity against expected redemption of wrappers) 2026 Premiuminentory Cash (To record purchase of coffee mugs) Canh SalerRevenue \begin{tabular}{|l|l|} \hline \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} \begin{tabular}{r} \hline,80,000 \\ \hline \end{tabular} 390.000 \begin{tabular}{r} 1872.000 \\ \hline \\ \hline \\ \hline \end{tabular} 18,72,000 67,70000 2026 Promiuminventory Conh (To record purchase of cof ags) cosh Sales Revenue (To record sale of candy bars) Cash PremiumLiability Premium Expenie Premiun linventory \begin{tabular}{|r|} \hline 1,70,000 \\ \hline \\ \hline 5,60,000 \\ \hline 2,90,000 \\ \hline \\ \hline \\ \hline \\ \hline \end{tabular} 50.20 .000 (To record colfee mugs offered for wrappers redeemed) Premian Expense 5.44000 Prenivan Uatility Premian Exponse Pressium invertary (To record coffee mugs offr "or wrappers redeemed) Premium Expense Premiun tiability (To record mability against expected redemption of wrappers) eTextbook and Media List of Accounts 5we for tater Attempts: 1 of 2 used (b) Indicate the account names, amounts, and classifications of the items related to the premium plan that would appear on the Ivanhoe Candy Company balance sheet and income statement at the end of 2025 and 2026 . Indicate the account names, amounts, and classifications of the items related to the premium plan that would appear on the Ivanhoe Candy Company balance sheet and income statement at the end of 2025 and 2026