Wildhorse Company includes one coupon in each box of soap powder that it packs, and 10 coupons are redeemable for a premium (a kitchen utensin). In 2020, wildhorse Company purchased 8,000 premiums at 80 cents each and sold 117,000 boxes of soap powder at $3.50 per box; 42,500 coupons were presented for redemption in 2020 . It is estimated that 60% of the coupons will eventually be presented for redemption. Prepare all the entries that would be made relative to sales of soap powder and to the premium plan in 2020 . (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are autamatically indented when amount is entered. Do not indent manually.)