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Business, 15.04.2020 21:21 pineapplefun

Blossom Company offers a set of building blocks to customers who send in 3 UPC codes from Blossom cereal, along with 60¢. The block sets cost Blossom $1.30 each to purchase and 60¢ each to mail to customers. During 2020, Blossom sold 1,020,000 boxes of cereal. The company expects 30% of the UPC codes to be sent in. During 2020, 102,000 UPC codes were redeemed. Prepare Blossom’s December 31, 2020, adjusting entry. (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.)

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