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What is amount of revenue allocated to product sales

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Reference no: EM133053499

Question - Home gods retailer offers a sales incentive program where customers receive credit towards future purchases based on the dollar amount of their purchases today. For every $10 spent, a customer receives a $1 credit to use in the next 30 days. Based upon historical trends, the firm estimates that 35% of the credits will be redeemed.

Assume the credit associated with the sales incentive program is a separate performance obligation. If during the month the company sold $40,000 of product with a cost of $22,000, what is amount of revenue allocated to product sales?

Reference no: EM133053499

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