XYZ Co. has a program for customers where it provides a free "gift" after they purchase a product for $280. The gift costs $20 per customer but the value to the customer is $30 for the gift. The gift can be redeemed up to one year from purchase. In 2020, XYZ purchased 600 "gifts", sold 1000 products under this program, and provided 400 gifts to customers. It is expected that only 60% of customers will redeem the gift A) Prepare the journal entries for all of 2020 (including the sales) to account for the above assuming the revenue approach is used for the "gift