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Business, 20.02.2020 16:49 wehack6380

Novak 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, Novak Company purchased 8,000 premiums at 85 cents each and sold 100,000 boxes of soap powder at $3.40 per box; 45,400 coupons were presented for redemption in 2020. It is estimated that 60% of the coupons will eventually be presented for redemption.

Required:
Prepare all the entries that would be made relative to sales of soap powder and to the premium plan in 2014

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Novak Company includes one coupon in each box of soap powder that it packs, and 10 coupons are redee...

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