Premium Expense Exercise Pick-A-Perfect-Pie Co. (PPP) wants to increase customer purchases so it uses a promotional campaign using coupons. For each pie sold, one coupon is issued to the customer. 10 coupons and $1.00 are needed to receive a really neat designer pie plate made out of plastic. PPP purchases these pie plates for $2.70 each. They have experienced a 70% redemption rate. During 2020, 20,000 pies were sold, 1,500 pie plates were purchased (by PPP) and 10,000 coupons were redeemed. During 2021, 30,000 pies were sold, 3,000 pie plates purchased and 15,000 coupons were redeemed. Required: 1. Please prepare all journal entries for 2020 and 2021. 2. Please determine Premium Expense and Estimated Liability for Premiums for 2020 and 2021.