Please show solution for both nos. 1 and 2, thank you! Problem 2-22 (IFRS)(0) IskorJamaica Company, a retailer of electrical goods, participatesin a customer loyalty program operated by an airline.The entity grants program members one air travel point forevery FP1,000 spent on electrical goods.871100Program members can redeem the points for travel with theairline subject to availability. The entity pays the airline P60for each point.O MANUADuring the current year, the entity sold electrical goods forconsideration totaling P4,500,000 based on stand-aloneselling price and granted 5,000 points with stand-alone sellingprice of P100 per point.d1. What amount should be recognized as product salesrevenue?aberning 008a. 4,500,000b. 4,050,000095c.5,000,000d. 2,500,0002. What is the net revenue from points?a. 450,000b. 150,000c. 200,000d. 300,000xe vi bearer (10throq 000,0 46inoxALSOSdiscos

Revenue should be allocated to sale of goods & sale of points based on stand-alone price, Given,…

Problem 2-22 (IFRS) (20) Iskor Jamaica Company, a retailer of electrical goods, participates in a customer loyalty program operated by an airline. TOBOACIO The entity grants program members one air travel point for every P1,000 spent on electrical goods. 1 102 100 Program members can redeem the points for travel with the airline subject to availability. The entity pays the airline P60 for each point. During the current year, the entity sold electrical goods for consideration totaling P4,500,000 based on stand-alone selling price and granted 5,000 points with stand-alone selling price of P100 per point. 1. What amount should be recognized as product sales revenue? rababe gining 008 0908 a. 4,500,000 b. 4,050,000 xe vi boarrei 1000 throq 000 0 10 200 4 c. 5,000,000 d. 2,500,000 2. What is the net revenue from points? a. 450,000 b. 150,000 c. 200,000 d. 300,000 pod bor audiocons