Problem 13-9 Bridgeport Company offers an MP3 download (seven-single medley) as a premium for every 6 candy bar wrappers presented by customers together with $3.25. 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 $3.00. In addition, it costs 50 cents to distribute each code. The results of the premium plan for the years 2017 and 2018 are as follows. (All purchases and sales are for cash.) 2017 2018 MP3 codes purchased Candy bars sold Wrappers redeemed 2017 wrappers expected to be redeemed in 2018 2018 wrappers expected to be redeemed in 2019 330,000 435,600 2,643,400 2,918,700 1,584,000 1,980,000 382,800 Your answer is partially correct. Try again. Prepare the journal entries that should be made in 2017 and 2018 to record the transactions related to the premium plan of the Bridgeport Company. (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 Esplanation 2017 Cash To record the premim inventory 79 Sales Revenue 79. To record the sales.) Expense To record the expense associated with the sale Expense (TO pecord the premiu" liable 2018 Inventory of Premiums Cash (To record the premiam inventory) 87561 Sales Revenue 875610 (To record the sales 891550 Expense 82500 Liability To record the expense associated with the sale Expense To record the premium liability LIST OF ACCOUNTS Your answer is partially correct. Try again. Indicate the amounts for each accounts, and classifications of the items related to the premium plan that would appear on the balance sheet and the income statement at the end of 2017 and 2018 Account 2017 2018 Inventory of Premiums Premium Liability Premium Expense 31 Current Asset Current Liability Seling Expense Open Show Work 101 Click if you would like to Show Work for this