Problem 13-8 check attached file

To stimulate the sales of its Alladin breakfast cereal, Bridgeport Company places 1 coupon in each box.5coupons are redeemable for a premium consisting of a childrens hand puppet. In 2018, the company purchases47,900puppets at $1.55each and sells473,000boxes of Alladin at $3.80a box. From its experience with other similar premium offers, the company estimates that40% of the coupons issued will be mailed back for redemption. During 2018,127,500coupons are presented for redemption.

Prepare the journal entries that should be recorded in 2018 relative to the premium plan. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 1,525.)

Account Titles and Explanation	Debit	Credit
(To record the premium inventory.)
(To record the sales.)
(To record the expense associated with the sale.)
(To record the premium liability.)