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What amount should Nhoel report as estimated liability

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Reference no: EM133062736

Question - In December 2021, Nhoel Co. began including one coupon in each package of candy that it sells and offering a toy in exchange for 50 centavos and five coupons. The toys cost Nhoel 80 centavos each. Eventually 60% of the coupons will be redeemed. During December, Nhoel sold 110,000 packages of candy and no coupons were redeemed. In its December 31, 2021, balance sheet, what amount should Nhoel report as estimated liability for coupons?

a. P3,960

b. P10,560

c. P19,800

d. P52,800

Reference no: EM133062736

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