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(10 marks):Question Five Paige Candy Company offers a coffee mug as a premium for every ten $1 candy bar wrappers presented by customers together with
(10 marks):Question Five Paige 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 $1.80; in addition it costs $1.20 to mail each mug. The results of the premium plan for the years 2019 and 2020 are as follows (assume all purchases and sales are for cash): Coffee mugs purchased 2019 720,000 2020 800,000 Candy bar sold 5,600,000 6,750,000 Wrappers redeemed 2,800,000 4,200,000 2019 wrappers expected to redeemed in2020 2,000,000 2020 wrappers expected to redeemed in2021 2,700,000 Required: prepare all journal entries during 2019 and 2020
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