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What the liability for unredeemed coupons

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Reference no: EM133171190

Question - Wizards Company sold 4,100,000 boxes of apple pie mix. Each box contains one coupon, in which 10 coupons, with P5 entitles the customer to a baking pan. Wizards company pays P18 per pan and P2 for handling and shipping. Wizards company estimates that 70% of the coupons will be redeemed, even though only 2,150,000 coupons had proceeded during 2023. What the liability for unredeemed coupons on its December 31, 2023?

Reference no: EM133171190

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