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Determine the amount of liability Carrefour should recognize

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Reference no: EM132822897

Question - 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.

Reference no: EM132822897

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