Reference no: EM132787175

Problem 1: Carrefour released an application that allows customers to collects points for each purchase they make. For each purchase of $20, the customer gets 1 point. The customer can get a discount of $1 per 1 point on future purchases. During the year of 2019, customers collected 150,000 points, and based on past statistics, Carrefour assumes that 95% of customers will use these points for future discounts. Based on the above information, determine the amount of liability Carrefour should recognize in the statement of financial position on 31/12/2019