covers the topic on: LIABILITIES 1. Comparing the entries made by…

  

covers the topic on: LIABILITIES 1. Comparing the entries made by… covers the topic on: LIABILITIESImage transcription textLEMON, Inc. inaugurated a new sales promotional program. For every 15 cereal box tops returned to LEMON,customers will receive an attractive prize. LEMON estimates that only 25% of the cereal box tops reaching thecustomers will be redeemed. Sale of cereal boxes (585,000 units) 15,795,000 Purchase of prizes … … 1. Comparing the entries made by the company and your should be entries, prepare one compound entry to adjust the affected accounts considering the books are still open. Present the ADJUSTING ENTRY in your solutions.  Solve the problems and present ALL solutions needed to get the final answers. No shortcuts. Business Accounting Share (0)