Question: Problem II (15 points) Part 1: (7 points) Broderick Company began operations on January 2, 2019. It employs 12 individuals who work 8-hour days

Problem II (15 points) Part 1: (7 points) Broderick Company began operations

Problem II (15 points) Part 1: (7 points) Broderick Company began operations on January 2, 2019. It employs 12 individuals who work 8-hour days and are paid hourly. Each employee earns 15 paid vacation days annually. Vacation days may be taken after January 15 of the year following the year in which they are earned. Additional information is shown below. Actual Hourly Wage Rate 2019 $15 2020 $18 Vacation Days Used 2019 by Each Employee 2020 0 12 Broderick Company has chosen to accrue the cost of compensated absences at rates of pay in effect during the period when earned. Please prepare journal entries to accrue vacation at the end of 2019 and for vacations taken in 2020. Date: Debit Credit Part 2: (8 points) In 2020, to stimulate the sales of its Alladin breakfast cereal, Leptien Company places 1 coupon in each box. Three coupons are redeemable for a premium consisting of a children's hand puppet. In 2020, the company purchases 60,000 puppets at $3.75 each and sells 360,000 boxes of Alladin at $5.60 a box. From its experience with other premium offers, the company estimates that 30% of the coupons issued will be mailed back for redemption. Aladio will also pay $1 postage for each premium mailed to a customer. During 2021, 90,000 coupons are presented for redemption. 1. Please record the premium-related entries for 2020 and 2021. Do not record the cereal sales or the purchase of the hand puppet inventory. Debit Credit

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