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Question 14 Heng Co. Includes one coupon in each bag of dog food it sells....

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Question 14 Heng Co. Includes one coupon in each bag of dog food it sells. In return for 20 coupons, customers receive a dog toy that the company purchases for $1.80 each. Heng's experience indicates that 75 percent of the coupons will be redeemed. During 202 72,500 bags of dog food were sold for $3.99 per bag, 24,000 toys were purchased, and 34,000 coupons were redeemed. Instructions Prepare the following journal entries for Heng Co. for 2020: 1) Journalize the purchase of the premiums 2) Journalize the sales of dog food 3) Journalize the premiums distributed from actual coupons redeemed 4) journalize the contingent liability, at year end. *NOTE: This is a manual problem. Please complete your work in Word, Excel, or on paper (and take a picture of your work wi- cell phone) and e-mail your answers. This problem will be manually graded after the exam is submitted. Use the editor to format your

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