Concord Corp. offers a set of building blocks to customers who send in 3 codes from Concord cereal, along with $1.00. Concord purchased 99,600 building block sets in 2020 for $2.50 each, and paid for them by cash. During 2020, Concord sold 996,000 boxes of cereal for $4 per box. Concord estimates that 10% of the sales amount received from customers relates to the building block sets to be awarded. Concord expects 30% of the codes to be sent in, and in 2020, 239,040 codes were redeemed.

Prepare all necessary journal entries for 2020 if Concord follows ASPE and prefers to use the expense approach. (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

(To record cash purchase of premiums)

(To record cash sales)

(To record redemption of codes)

(To record premium expense)