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How much is the total revenue to be recognized

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Question - Energetic Company includes one coupon in each box of laundry soap it sells for 500 each. A towel costing 100 and with a selling price of 120 is offered as a premium to customers who send in 10 coupons and remittance of 20. The following is the information available:

 

2021

2022

Boxes of soap sold

50,000

80,000

Number of towels purchased

2,000

2,500

Coupons redeemed

14,000

20,000

Energetic's experience indicates that only 30% of the coupons will be redeemed. (Do not round off during computation)

Required - How much is the Total Revenue to be recognized in 2021?

Reference no: EM133178479

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