Business, 18.02.2021 23:30 ashtonsilvers2003
During 2021, Deluxe Leather Goods issued 800,000 coupons which entitles the customer to a $5.00 cash refund when the coupon is submitted at the time of any future purchase. Deluxe estimates that 70% of the coupons will be redeemed. 350,000 coupons had been processed during 2021. Deluxe recognizes coupon expense in the period coupons are issued. At December 31, 2021, Deluxe should report a liability for unredeemed coupons of:
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During 2021, Deluxe Leather Goods issued 800,000 coupons which entitles the customer to a $5.00 cash...
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