Business, 15.02.2021 20:00 harmonywilliams3064
Kingbird Company includes one coupon in each box of soap powder that it packs, and 10 coupons are redeemable for a premium (a kitchen utensil). In 2020, Kingbird Company purchased 8,500 premiums at 80 cents each and sold 118,000 boxes of soap powder at $3.10 per box; 47,600 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.
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