Sarasota Corporation sold Sugar Frosted Cocoa Bombs, a children's breakfast cereal. As a promotion, Sarasota offered its customers a free music CD in exchange for 4 boxtops, plus $3.00 to cover postage and handling. The CD cost Sarasota $3.25, and postage costs to mail the CDs out to customers were $2.50. Sarasota estimated that 70% of its customers would redeem boxtops. Sarasota purchased 10,000 CDs at the start of the promotion in November, 2020.96,000 boxes of cereal were sold during November and December, 2020, and Sarasota's year-end was December 31. Prior to the end of the fiscal year, 5,600 customers took advantage of the offer, which continued until February, 2021. Sarasota follows ASPE and uses the expense approach to account for its premiums. Prepare the journal entry to record the purchase of the promotional CDs. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts Prepare the journal entry to record the redemption by 5,600 customers. (Credit account titles are automatically indented when the amount is entered nonot indent manually. If no entry is required select No Entry for the account titles and enter for the amounts Prepare the journal entry to record the redemption by 5,600 customers. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts Prepare the journal entry to record the year-end accrual entry for estimated premium expense. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit