Your answer is correct. Wynn Company offers a set of building blocks to customers who send in 3 UPC codes from Wynn cereal, along with 50C. The blocks sets cost Wynn $1.10 each to purchase and 60C each to mail to customers. During 2012, Wynn sold 1,200,000 boxes of cereal. The company expects 30% of the UPC codes to be sent in. During 2012, 120,000 UPC codes were redeemed. Prepare Wynn's December 31, 2012, adjusting entry. escri tion/Account remium ex ense Estimated liabili for remiums