SNM Bhd offers coupons to its customers in an effort to increase its annual sales. The company places $1$ coupon in each packet of Product A$.$ Customers can exchange $10$ coupons for $1$ decorative clock. In $2018,$ SNM Bhd purchases in cash $2,500$ units of decorative clock at RM$10\mathrm{.}00$ each. The company also sold $50,000$ units of Product A at a price of RM$20\mathrm{.}00$ each. SNM Bhd estimated that $40\%$ of the coupons will be redeemed. As of $31$ December $2018,$ only $15,000$ coupons were presented for redemption.

REQUIRED:

$($a$)$ Prepare the necessary journal entries for SNM Bhd during the year $2018.$ Please show your calculations.

$($b$)$ Determine the asset and liability that relate to the above transactions that would appear on $31$ December $2018$ Statement of Financial Position.