Kane Candy Company offers a coffee mug as a premium for every ten $1 candy bar wrappers presented by customers together with $1.50. The purchase price of each coffee mug to the company is $2.60; in addition, it costs $1.40 to mail each coffee mug. The results of the premium plan for 2020 are as follows (assume alt purchases and sales are for cash).

coffee mug purchased 820,000 Candy bars sold 5,700,000 Wrappers redeemed 2,600,000 2020 wrappers expected to be redeemed in 2021 1,900,000 Instructions Prepare the general journal entries that should be made for the redemption of wrappers in 2020 and the premium liability as of the end of 2020

Please be Clear.