As a Vending Tech, I sunk far too much time into adjusting those damn sensors. I now disable them. ( I know this makes some people's heads explode. Sorry. )
There are three different models to concern yourself with.
1 ) The first is the one sensor model. It wasn't in production too long. To bypass the sensor, cut off then connector end of the sensor assembly, including about 3-4 inches of wiring. Strip an inch of insulation from the two outside wires, and twist them together, shorting out those wires. Put a small bit of electrical tape around the bare wires, and then tie the middle wire around the two ( now connected ) wires. This keeps them in place.
2 ) The second model is the basic two sensor model. It was in production far longer than the first one. The procedure is essentially the same, but now you have something else to work with. There is a jumper wire that connects to a small board that essentially feeds the two sensor circuits. Remove this jumper wire, it has the same connections as the end of one of the sensor assemblies. Simply cut all three wires at the halfway point and follow the instructions I detailed above. ( You also have a small bit of wire protector. I cut this in half and slide it down over the third wire that you've tied around the two jumped wires. It protects it. As a bonus, you've not damaged the sensor assemblies themselves, and can mess with them later if you want an exasperating experience comparable to the punishments of Sisyphus.
3 ) The Energy Star model is a bit different. The board that controls the sensors has a host of other duties, and cannot simply be bypassed. You must cut the sensor assembly wires as detailed in #1 to bypass the sensors.
NOTE: In a perfect world, I would never, ever, ever bypass the sensors. They serve an important purpose, and over the long run keep your customers happy by reducing missed vends and bottle jams. Unfortunately, I 1) don't have the time to properly adjust the dang things. They're fiddly and just when you think you've got them aligned, they start beeping again. and 2) customers get more angry when a machine is constantly beeping ( especially when it's been going on a week and no one every called you because "well, Susan from Accounting is always the one who calls the vending company" ) than I've ever seen them about anything, ever.