Sales promotions At the bottom of all its February sales receipts, Seifert Stores Inc. printed $2-off coupons. The coupons may be redeemed March 1-April 30. Seifert Stores Inc. accepts only cash, MasterCard, or VISA. During February, Seifert Stores completed the following selected transactions: Feb. 6. Sold merchandise to Marci Andrews with a list price of $175 that cost Seifert Stores Inc. $80. Marci presented a $5-off coupon, which she clipped out of the loca newspaper. Marci used her VISA card for the purchase. 18. Sold merchandise to Chris Johnson with a list price of $50 that cost Seifert Stores $24. The bottom of Chris Johnson's cash receipt includes the $2-off coupon. Chris paid cash for his purchase. Assume that Seifert Stores Inc. sald $40,000,000 of merchandise in March and that 1,400,000 of the $2-off coupons were redeemed. The cost of the merchandise sold was $23,600,000. a. Journalize on March 31 the March sales for Seifert Stores Inc. If an amount box does not require an entry, leave it blank. Date Mar. 31 Mar. 31 Account Debit Credit b. Assume that Seifert Stores Inc. sold $33,500,000 of merchandise in April and that 440,000 of the $2-off coupons were redeemed. The cost of the merchandise sold was $19,100,000. Journale on April 30 the April sales of Seifert Stores Inc. If an amount box does not require an entry, leave it blank. Date Account Apr. 301 Debit Credit b. Assume that Selfert Stores Inc. sold $33,500,000 of merchandise in April and that 440,000 of the $2-off coupons were redeemed. The cost of the merchandise sold was $19,100,000. Journalize on April 30 the April sales of Seifert Stores Inc. If an amount box does not require an entry, leave it blank. Date Apr. 30 Apr. 301 Account Debit Credit c. Assume that Selfert Stores sold $25,000,000 of merchandise in February, which generated 12,500,000 printed sales receipts. The merchandise sold cost $16,500,000. Siefert Stores estimates that 15% of the $2 -off coupons printed in February will be redeemed before they expire April 30. What is the balance of Estimated Coupons Payable on April 307 d. Journalize the expiration of the remaining coupons on April 30. If an amount box does not require an entry, leave it blank. Date Account . Apr. 30 Debit Credit