2012 2013 No. Account Titles and Explanation Debit Credit 2012 (To record the pe

Question

2012 2013 No. Account Titles and Explanation Debit Credit 2012 (To record the pemium inventory.) (To record the sales.) (To record the expense associated with the sale.) (To record the premium liability.) 2013 (To record the pemium inventory.) (To record the sales.) (To record the expense associated with the sale.) (To record the premium liability.) Amount Account 2012 2013 Classification

2012
2013 CDs purchased
337,500
445,500 Candy bars sold
2,936,600
2,827,400 Wrappers redeemed
1,620,000
2,025,000 2012 wrappers expected to be redeemed in 2013
391,500

2013 wrappers expected to be redeemed in 2014


472,500

Explanation / Answer

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