Jennifer Cakes places a coupon in each box of its product. Customers may send in five coupons and $3, and the company will send them a recipe book. Sufficient books were purchased at a cost of $5 each. A total of 400,000 boxes of product were sold in 2016. It was estimated that 6% of the coupons would be redeemed. During 2016, 8,000 coupons were redeemed. Which entry should be made at December 31, 2016?

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The Answer of Jennifer Cakes places a coupon in each box of its product. Customers may send in five coupons and $3, and the company will send them a recipe book. Sufficient books were purchased at a cost of $5 each. A total of 400,000 boxes of product were sold in 2016. It was estimated that 6% of the coupons would be redeemed. During 2016, 8,000 coupons were redeemed. Which entry should be made at December 31, 2016?

Jennifer Cakes Places a Coupon in Each Box of Its