Valix Finacc vol 2 Problem 1-25

Financial Accounting Volume 2 2008 Valix-Peralta
Chapter 1 Problem 1-25

Problem 1-25  Answer  C                                                                                       

Total coupons issued and to be redeemed (600,000 x 70% x 110%)                 462,000

Less: Total payments to retailer                                                                               220,000

Liability for underdeemed coupons – 12/31/2008                                               242,000