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Part $1$

Bionic $$Grocers$,$ Inc. offered its customers a free baking pan in exchange for $100$ green stickers. Customers earn $1$ green sticker for each $$$$8$ of groceries purchased at Bionic during $2022.$ During $2022,$ Bionic purchased with cash $1$ comma $190$ baking pans at $ $7$ each and sold $ $3\mathrm{.}7$ million of groceries. Bionic expects about $32\%$ of its customers to redeem the stickers. In $2023,$ consumers redeemed $109$ comma $000$ stickers. Requirement

Provide all necessary journal entries related to the baking pan offer. $($Record debits$$ first, then credits. Exclude explanations from any journal$$ entries.$)$

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Part $1$

Prepare the journal entry for the purchase of the baking pan inventory.

Account

Purchase of Premium Item

Part $2$

$$Now$,$ prepare the journal entry for the contingent liability related to this premium offer.

Account

December $31,2022$

Part $3$

$$Next$,$ prepare the journal entry for redemption of the stickers.

Account

During $2023$