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What is the amount of revenue reported for year one

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Question - Ace Company is a local fitness center in Richmond. To boost sales, it sells a package to its customers which are made up of two pieces of paper. Paper One is the right to a massage with a retail value of $100. Paper Two is a coupon that can be presented for a $10 cash rebate. One hundred packages are sold for $100 each in Year One. All 100 massages are taken in Year One. The company expects 70 percent of the coupons to be redeemed but not until Year Two. What is the amount of revenue reported for Year One?

Reference no: EM132478667

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