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How much sales revenue is recognized

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Question - Devera Supermarket, Inc. awards customers loyalty points for their purchases. A customer is entitled to one point for every P400 purchase. The points accumulated may be redeemed for awards in the form of appliances, electronics, groceries and other household items. Devera estimates the stand-alone selling price of each point at P4.00. During the period, Devera made total sales of P40,000,000 to cardholders. How much sales revenue is recognized?

Reference no: EM133183622

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