choose the correct answer ( make su the answer is correct 100%) Fancy Fish Company offers a cash rebate of $0.25 on each $12 package of fish food sold during 2022. Historically, 10% of customers mail in the rebate form. During 2022, 5,000,000 packages are sold, and 150,000 $0.25 rebates are mailed to customers. What is the rebate expense and liability, respectively.

choose the correct answer ( make su the answer is correct 100%) Fancy Fish Company offers a cash rebate of $0.25 on each $12 package of fish food sold during 2022. Historically, 10% of customers mail in the rebate form. During 2022, 5,000,000 packages are sold, and 150,000 $0.25 rebates are mailed to customers. What is the rebate expense and liability, respectively.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Help me selecting the right answer. Thank you
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