c. Assume that Seifert Stores sold $25,000,000 of merchandise in February, which generated 12,500,000 printed sales receipts. The merchandise sold cost $16,500,000. Siefert Stores estimates that 15% of the $2 off coupons printed in February will be redeemed before they expire April 30. What is the balance of Estimated Coupons Payable on April 30? PLEASE NOTE: $3,750,000; $562,500; $1,875,000; $21,250,000; $7,225,000 are all INCORRECT answeres.

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 redeemed in June 1. Sunbridge estimates that 20% of the coupons will be redeemed before they expire on August 31. During May, Sunbridge sold, for cash, merchandise for $400,000, which 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 costs $281,000. 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 amount box does not require an entry, leave it blank.

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 redeemed in June 1. Sunbridge estimates that 20% of the coupons will be redeemed before they expire on August 31. During May, Sunbridge sold, for cash, merchandise for $400,000, which 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 costs $281,000. Additionally, 11,000 coupons were redeemed. Sunbridge uses a perpetual inventory system.

a. Record Navis, Incorporated's sales for a month at $75,000. The items sold cost $62,500. Navis records sales at the total invoice amount. b. Record the return of $7,500 of the above sales within the 30-day return period. c. Record the receipt of payment on the remainder of the month's sales, assuming that customers purchasing $50,000 took advantage of a 2 percent cash discount for early payment. None of the customers taking advantage of the cash discount were among those that returned their purchases. Complete this question by entering your answers in the tabs below. Required A Required B Required C Record the receipt of payment on the remainder of the month's sales, assuming that customers purchasing $50,000 took advantage of a 2 percent cash discount for early payment. None of the customers taking advantage of the cash discount were among those that returned their purchases. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first…