Show Attempt History Current Attempt in Progress Your answer is partially correct. Teal Company offers a set of building blocks to customers who send in 3 UPC codes from Teal cereal, along with 60. The block sets cost Teal $1.00 each to purchase and 70 each to mail to customers. During 2020, Teal sold 876,000 boxes of cereal. The company expects 30% of the UPC codes to be sent in. During 2020, 87,600 UPC codes were redeemed. Prepare Teal's December 31, 2020, adjusting entry. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Premium Expense Premium Liability Debit 87600 Credit 87600 eTextbook and Media List of Accounts Save for Later Attempts: unlimited Submit Answer