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Current Attempt In Progress Stellar Company offers an MP3 download seven single medley as a premium for every 5 candy barwrappers presented by customers together
Current Attempt In Progress Stellar Company offers an MP3 download seven single medley as a premium for every 5 candy barwrappers presented by customers together with $3.30. The candy bars are sold by the company to distributors for 30 cents each. The purchase price of each download code to the company is $305. In addition, it costs 50 cents to distribute cach code. The results of the premium plan for the years 2017 and 2018 areas follows. All purchases and sales are for cash) MP3 codes purchased Candy barssold Wrappers redeemed 2017 wrappers expected to be redeemed in 2018 2018 wrappers expected to be redeemed in 2019 2017 2018 340.000 44.000 2.665.300 2.676,600 1.632.000 2.040,000 394.400 476,000 - Your answer is partially correct for the amounts Credit account rities are automatically indented when amount is entered. Do not Prepare the journal entries that should be made in 2017 and 2018 to record the transactions related to the premiumplan of the Seller Company (Fre entry is required, select "Na Fatry for the account titles and enter indes manually. Round answers to decimal places, s. 1,525. Account Titles and Explanation Debit 2017 Inventory of Premium 1037000 1037000 (o record the premium inventory) 7995901 Sales Revenue (To record the sales) 799590 930240 Premium Expert story of Premium (To record the expense associated with the sale.) Premium Expense Pri blity (o record the premium abit) 2018 Inventory of Premium 163630 0163630 (To record the premium inventory) Sales Revenue (to record the sales) Premium L iity Premium Expert Inventory of Premium (To record the expense associated with the sale) Premium Expande Premium Lilit (to record the premium liability)
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