How much should best ever record as an adjustment

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Question: Best Ever, Inc. provides loyalty rewards to its customers. Best Ever, Inc. analyzed its liabilities associated with customer rewards and discovered that the amount of estimated future economic sacrifices totaled $990,000 as of March 31, 2025. The unadjusted general ledger as of the end of March 31, shows a liability balance related to customer rewards in the amount of $700.000. Using the asset-liability approach, how much should Best Ever record as an adjustment?

Reference no: EM133376469

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