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Current Attempt in Progress Wildhorse Company offers a set of building blocks to customers who send in 3 box tops from Wildhorse cereal, along
Current Attempt in Progress Wildhorse Company offers a set of building blocks to customers who send in 3 box tops from Wildhorse cereal, along with 50. The block sets cost Wildhorse $1.10 each to purchase and 60c each to mail to customers. During 2022, Wildhorse sold 1,296,000 boxes of cereal. The company expects 30% of the box tops to be sent in. During 2022, 129,600 box tops were redeemed. Prepare Wildhorse's December 31, 2022, adjusting entry. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit eTextbook and Media.
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