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Included in the total sales of $940,560 are the sales of GeneralProducts brand 6000 soap powder boxes GeneralProducts includes one coupon in every soap powder

Included in the total sales of $940,560 are the sales of GeneralProducts brand 6000 soap powder boxes

GeneralProducts includes one coupon in every soap powder box. Customers can redeem 4 coupons for one

Kitchen untensil. Based on past experience 60% of the coupons are redeemed by customers.

During 2016 3,400 coupons were redeemed. Purchase of premiums during 2016 totalled

1,000 premiums @ $1.10 each on credit. Please provide the journal entries and calculations?

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