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The Happy Cereal Company includes a premium in each box of its cereal. For four premiums plus $ 2 . 0 0 , customers are
The Happy Cereal Company includes a premium in each box of its cereal. For four premiums plus $ customers are entitled to a plastic wiggle worm that costs Happy $ each. Happy expects of the premiums to be redeemed. In Happy sold boxes of cereal and distributed wiggle worms.
Refer to Exhibit What is Happy's premium expense for
a
$
b
$
c
$
d
$
Prepare the journal entries
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