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How much should Harry Corp disclose as a liability

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Question - Harry Corporation sold 500,000 cartons of cake mix during 2021 under a new sales promotion initiative. Each package includes one coupon, which entitles the purchaser to a baking pan for a P4.00 remittance. Harry Corp. pays P5.00 for each pan, plus P0.50 for handling and shipping. Harry Corp. anticipates that 80 percent of the coupons will be redeemed, despite the fact that only 300,000 coupons were processed in 2021. At Dec. 31, 2021, how much should Harry Corp. disclose as a liability for unredeemed coupons?

Reference no: EM133071106

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