Situation 3: Blossom Corp. sold 672,000 boxes of pie mix under a new sales promotion program. Each box contains one coupon that entitles the customer to a baking pan when the coupon is submitted with an additional $4.75 from the customer. Blossom pays $5.00 per pan and $1.25 for shipping and handling. Blossom estimates that 60% of the coupons will be redeemed even though only 100,800 coupons had been processed during 2023. Each box of pie mix is sold for $4.50, and Blossom estimates that $1.00 of the sale price relates to the baking pan to be awarded. Blossom follows IFRS and accounts for its promotional programs in accordance with the revenue approach and IFRS 15. (a) What amount related to the promotional program should Blossom report as a liability at December 31, 2023? Liability for the promotional program $ (b) What amount of premium expense will Blossom report on its 2023 income statement as a result of the promotional program? Premium Expense $ (c) Prepare any necessary 2023 journal entries to record revenue, the liability, and coupon redemptions. Ignore any cost of goods sold entry.