Pronghorn Company offers an MP3 download (seven-single medley) as a premium for every 5 candy bar wrappers presented by customers together with $2.70. 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 $2.45. 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		280,000		369,600
Candy bars sold		3,158,600		2,890,500
Wrappers redeemed		1,344,000		1,680,000
2017 wrappers expected to be redeemed in 2018		324,800
2018 wrappers expected to be redeemed in 2019				392,000

Account Titles and Explanation Debit Credit 2017 Inventory of Premiums 686,000 Cash 686,000 (To record the premium inventory.) Cash 947,580 Sales Revenue (To record the sales.) Cash 947,580 591,360 Premium Expense 67,200 Inventory of Premiums (To record the expense associated with the sale.) Premium Expense 658,560 15,660 Premium Liability 15,660 2018 Inventory of Premiums 905,520 Cash 905,520 To record the premium inventory.) Cash 867,150 867,150 Sales Revenue (To record the sales.) Cash 739,200 Premium Expense 84000 Premium Liability 16240 Inventory of Premiums 823,200 (To record the expense associated with the sale.) To record the expense associated with the sale.) Premium Expense 19600 Premium Liability 19600 (To record the premium liability.) Amount Account 2017 2018 Classification Inventory of Premium:s Premium Liability Premium Expense 27440 66080Current Asset 16240 19600Current Liability 83440 103600Selling Expense Click if you would like to Show Work for this question: Open Show Work