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1 of 2 < > View Policies Current Attempt in Progress -/15 Sheridan Candy Company offers a coffee mug as a premium for every ten
1 of 2 < > View Policies Current Attempt in Progress -/15 Sheridan Candy Company offers a coffee mug as a premium for every ten $1 candy bar wrappers presented by customers together with $2. The purchase price of each mug to the company is $2.40; in addition it costs $1.60 to mail each mug. The results of the premium plan for the years 2020 and 2021 are as follows (assume all purchases and sales are for cash): 2020 2021 Coffee mugs purchased 710,000 800,000 Candy bars sold 5,700,000 6,980,000 Wrappers redeemed 2,800,000 4.160,000 2020 wrappers expected to be redeemed in 2021 2,000,000 2021 wrappers expected to be redeemed in 2022 2,700,000 Part 1 Type here to search D Indicate the account names, amounts, and classifications of the items related to the premium plan that would appear on the Sheridan Candy Company balance sheet and income statement at the end of 2020 and 2021. Balance Sheet Account Name Income Statement here to search Account Name O C Class 2020 Class 2020 $
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