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Business, 12.03.2021 15:00 083055

Concord Frosted Flakes Company offers its customers a pottery cereal bowl if they send in 3 boxtops from Concord Frosted Flakes boxes and $2. The company estimates that 60% of the boxtops will be redeemed. In 2021, the company sold 1357000 boxes of Frosted Flakes and customers redeemed 630000 boxtops receiving 210000 bowls. If the bowls cost Concord Company $4 each, how much liability for outstanding premiums should be recorded at the end of 2021

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