Flint Company offers a set of building blocks to customers who send in 3 UPC codes from Flint cereal, along with 60¢. The block sets cost Flint $1.00 each to purchase and 50¢ each to mail to...

Flint Company offers a set of building blocks to customers who send in 3 UPC codes from Flint cereal, along with 60¢. The block sets cost Flint $1.00 each to purchase and 50¢ each to mail to customers. During 2017, Flint sold 1,008,000 boxes of cereal. The company expects 30% of the UPC codes to be sent in. During 2017, 100,800 UPC codes were redeemed. Prepare Flint’s December 31, 2017, adjusting entry