Kane 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 720,000 800,000 Candy bars sold 5,600,000 6,750,000 Wrappers redeemed 2,800,000 4,200,000 2020 wrappers expected to be redeemed in 2021 2,000,000 2021 wrappers expected to be redeemed in 2022 2,700,000

Prepare the general journal entries that should be made in 2020 and 2021 related to the above plan by Kane Candy.