Prairie Foods Inc. (PFI) rewards its loyal customers with one point for every dollar spent in the store. Customers can redeem 1,000 points for a $10 gift card to be used to purchase additional merchandise at PFI. Historically, 80% of points are redeemed. PFIs markup on merchandise is 40%. During 2018, PFIs sales totalled $22,000,000. In 2019, customers redeemed 12,790,000 points.

Prepare the summary journal entry to record 2018 sales revenue.

Prepare the summary journal entry to record the 2019 points redemption.