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Total payments to retailers as of Dec 31, 2021 Liability for unredeemed coupons as of December 31, 2021 P165,000 P 99,000 What is the total face amount of coupons issued by Sedum Inc. in 2021?

Total payments to retailers as of Dec 31, 2021 Liability for unredeemed coupons as of December 31, 2021 P165,000 P 99,000 What is the total face amount of coupons issued by Sedum Inc. in 2021?

FINANCIAL ACCOUNTING
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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Total payments to retailers as of Dec 31, 2021 Liability for unredeemed coupons as of December 31, 2021 P165,000 P 99,000 What is the total face amount of coupons issued by Sedum Inc. in 2021?
Transcribed Image Text:Total payments to retailers as of Dec 31, 2021 Liability for unredeemed coupons as of December 31, 2021 P165,000 P 99,000 What is the total face amount of coupons issued by Sedum Inc. in 2021?
Problem 2. Sedum Inc. includes coupons that may be presented at retail stores to obtain discounts on other Sedum products. Retailers are reimbursed for the face amount of coupons redeemed plus 10% of that amount for handling costs. Sedum honors requests for coupon redemption by retailers up to 3 months after the consumer expiration date. Sedum estimates that 60% of all coupons will ultimately be redeemed. Information relating to coupons issued by Sedum during 2021 are as follows: Consumer expiration date 2020 December 31,
Transcribed Image Text:Problem 2. Sedum Inc. includes coupons that may be presented at retail stores to obtain discounts on other Sedum products. Retailers are reimbursed for the face amount of coupons redeemed plus 10% of that amount for handling costs. Sedum honors requests for coupon redemption by retailers up to 3 months after the consumer expiration date. Sedum estimates that 60% of all coupons will ultimately be redeemed. Information relating to coupons issued by Sedum during 2021 are as follows: Consumer expiration date 2020 December 31,
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