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Question #2 (10 Points) The Yummy Company offers a Cookbook for every 10 labels redeemed from boxes of cookies sold. As sales have been slow,

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Question #2 (10 Points) The Yummy Company offers a Cookbook for every 10 labels redeemed from boxes of cookies sold. As sales have been slow, the company is hoping to boost its revenue by offering this incentive. Each Cookbook costs the company $4. The following data is available for two months in 2018: Months Number of Boxes Number of Cookbooks Number of Labels of Cookies Sold purchased by the company redeemed by Customers 35,000 40,000 November 240,000 110,000 150,000 December 260,000 It is estimated that only 75% of labels will be redeemed. A box of cookies sells for $6 each. Required: Prepare the journal entries for the month of November and December, using the last date of each month, for 1) The sale of the boxes of cookies. The purchase of the cookbooks. The labels redemption and any adjusting entry required at end of each month. (2 1/2 Points) (2 1/2 Points) (5 Points)

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