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What amount should june report as liability

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Question - During 2020, June Company sold 500,000 boxes of cake mix under a new sales promotional program. Each box contains one coupon, which when submitted with P40 entitles the customer a baking pan. June pays P50 per pan and P5 for handling and shipping. June estimates that 80% of the coupon will be redeemed, even though only 300,000 coupons have been process during the year. What amount should June report as liability for unredeemed coupons at December 31, 2020?

Reference no: EM132765403

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