View Policies Current Attempt in Progress Ayayai Limited, a private company following ASPE, includes one coupon in each box of soap powder that it produces, and 11 coupons are redeemable for a premium (a kitchen utensil). In 2020, Ayayai Corporation purchased 8,540 premiums at $0.80 each and sold 138,600 boxes of soap powder at $3.30 per box. In total, 48,400 coupons were presented for redemption in 2020. It is estimated that 65% of the coupons will eventually be presented for redemption. Ayayai uses the expense approach to account for premiums. Prepare all the entries that would be made for sales of soap powder and for the premium plan in 2020. Ignore any cost of goods sold entry. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit (To record cash purchase of premiums) (To record cash sales) (To record redemption of coupons) (To record premium expense) eTextbook and Media List of Accounts