TrueTech offers a promotional coupon with every Tri-Box it sells for $240. •The coupon gives the Tri-Box customer an opportunity to buy a headset that normally sells for $150 for only $1 discount). •The coupon must be redeemed within one year of the Tri-Box purchase. TrueTech estimates that 80% of customers will take advantage of the coupon. How would TrueTech account for the cash sale of 100 Tri-Boxes sold under this promotion on January 1, 2021? options: The company should recognize sales revenue of $24,000 on January 1, 2021. The company should recognize sales revenue of $19,200 on January 1, 2021. The company should recognize sales revenue of $20,000 on January 1, 2021. The company should recognize sales revenue of $30,000 on January 1, 2021.
TrueTech offers a promotional coupon with every Tri-Box it sells for $240. •The coupon gives the Tri-Box customer an opportunity to buy a headset that normally sells for $150 for only $1 discount). •The coupon must be redeemed within one year of the Tri-Box purchase. TrueTech estimates that 80% of customers will take advantage of the coupon. How would TrueTech account for the cash sale of 100 Tri-Boxes sold under this promotion on January 1, 2021? options: The company should recognize sales revenue of $24,000 on January 1, 2021. The company should recognize sales revenue of $19,200 on January 1, 2021. The company should recognize sales revenue of $20,000 on January 1, 2021. The company should recognize sales revenue of $30,000 on January 1, 2021.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
H1.
Account
![TrueTech offers a promotional coupon with every Tri-Box it sells for $240.
•The coupon gives the Tri-Box customer an opportunity to buy a headset that normally sells for $150 for only $75 (a 50%
discount).
•The coupon must be redeemed within one year of the Tri-Box purchase.
TrueTech estimates that 80% of customers will take advantage of the coupon.
How would TrueTech account for the cash sale of 100 Tri-Boxes sold under this promotion on January 1, 2021?
options:
The company should recognize sales revenue of $24,000 on January 1, 2021.
The company should recognize sales revenue of $19,200 on January 1, 2021.
The company should recognize sales revenue of $20,000 on January 1, 2021.
The company should recognize sales revenue of $30,000 on January 1, 2021.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F32c0cfc8-ebc2-43a6-9c48-ae841504d819%2F5caeae50-ff0f-4c96-b472-a2c22dce3c47%2F9la64hq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:TrueTech offers a promotional coupon with every Tri-Box it sells for $240.
•The coupon gives the Tri-Box customer an opportunity to buy a headset that normally sells for $150 for only $75 (a 50%
discount).
•The coupon must be redeemed within one year of the Tri-Box purchase.
TrueTech estimates that 80% of customers will take advantage of the coupon.
How would TrueTech account for the cash sale of 100 Tri-Boxes sold under this promotion on January 1, 2021?
options:
The company should recognize sales revenue of $24,000 on January 1, 2021.
The company should recognize sales revenue of $19,200 on January 1, 2021.
The company should recognize sales revenue of $20,000 on January 1, 2021.
The company should recognize sales revenue of $30,000 on January 1, 2021.
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