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What liability should the company recognize

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Question - A company sells cereal in boxes, each of which has a coupon on it. A customer can mail in four coupons and receive a check for $2. During Year One, the company sells 600,000 boxes and anticipates that 40 percent of the coupons will eventually be returned. By the end of Year One, 88,000 coupons have been returned. What liability should the company recognize at the end of Year One?

Reference no: EM132478655

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