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Sun Shack Snack Corp. sells Trail mix for $ 7 . 5 0 a box. By including a coupon for a pedometer, the company hopes
Sun Shack Snack Corp. sells Trail mix for $ a box. By including a coupon for a pedometer, the company hopes to increase sales. If customers redeem the coupon, they can obtain a pedometer for $ The pedometers will cost Sun Shack $ each. Sun Shack estimates that the promotion will be popular; they expect boxes of trail mix to be sold in Year and of the coupons to be redeemed during the promotional period. Of the total coupons expected to be redeemed, of the coupons will be redeemed in Year
Required:
Prepare journal entries in support of this year's Year transactions for the following:
i Sales all cash
ii Purchase of pedometers inventory for cash
iii. Current year redemptions
iv Liability accrual at end of Year
Prepare journal entries in support of this year's December Year transactions for the following:
i Sales all cash
ii Purchase of pedometers inventory for cash
iii. Current year redemptions
iv Liability accrual at end of Year
General Journal Instructions
PAGE
GENERAL JOURNAL
DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT
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