Sunbridge Stores prints a coupon on the bottom of all its May sales receipts for $3...

 

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Sunbridge Stores prints a coupon on the bottom of all its May sales receipts for $3 off the customer's next purchase of over $20. The coupons may be Sunbridge estimates that 20% of the coupons will be redeemed before they expire on August 31. During May, Sunbridge sold, for cash, merchandise fo generated 60,000 sales receipts. The cost of the merchandise sold was $215,000. During June, Sunbridge sold $525,000 of merchandise for cash that Additionally, 11,000 coupons were redeemed. Sunbridge uses a perpetual inventory system. Required: Prepare the journal entries related to the coupons for May and June. Be sure to include the expiration of any coupons. For a compound transaction, if an not require an entry, leave it blank. May 31 May 31 Jun. 30 Jun. 30 Jun. 30 0 0 000 0 Sunbridge Stores prints a coupon on the bottom of all its May sales receipts for $3 off the customer's next purchase of over $20. The coupons may be Sunbridge estimates that 20% of the coupons will be redeemed before they expire on August 31. During May, Sunbridge sold, for cash, merchandise fo generated 60,000 sales receipts. The cost of the merchandise sold was $215,000. During June, Sunbridge sold $525,000 of merchandise for cash that Additionally, 11,000 coupons were redeemed. Sunbridge uses a perpetual inventory system. Required: Prepare the journal entries related to the coupons for May and June. Be sure to include the expiration of any coupons. For a compound transaction, if an not require an entry, leave it blank. May 31 May 31 Jun. 30 Jun. 30 Jun. 30 0 0 000 0