Shamrock Company includes $1$ coupon in each box of soap powder that it packs, and $5$ coupons are redeemable for a premium $($a kitchen utensil$).$ In $2025,$ Shamrock Company purchased $8,400$ premiums at $50$ cents each and sold $53,500$ boxes of soap powder at $$3\mathrm{.}20$ per box; $23,350$ coupons were presented for redemption in $2025.$ It is estimated that $60\%$ of the coupons will eventually be presented for redemption.

Prepare all the entries that would be matie relative to sales of soap powder and to the premium plan in $2025.($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. List all debit entries before credit entries.$)$

Account Titles and Explanation

Debit

Credit

$($To record the premium inventory$)$

$($To record the sales$)$