Problem 13-8 Your answer is partially correct. Try again. To stimulate the sales of its Alladin breakfast cereal, Ayayai Company places 1 coupon in each box. 5 coupons are redeemable for a premium consisting of a children's hand puppet. In 2018, the company purchases 49,100 puppets at S1.70 each and sells 484,000 boxes of Alladin at $3.95 a box. From its experience with other similar premium offers, the company estimates that 50% of the coupons issued will be mailed back for redemption. During 2018, 131,500 coupons are presented for redemption. Prepare the journal entries that should be recorded in 2018 relative to the premium plan. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimai places, e.g. 1,525.) Account Titles and Explanation Debit Credit Inventory of Premiums 83470 Cash 83470 Cash 1911800 Sales Revenue (To record the sales.) Premium Expense 1911800 65824 Inventory of Premiums 65824 (To record the expense associated with the sale.) Premium Expense 44710 Inventory 44710 (To record the premium liability.)