Martz Inc. has a customer loyalty program that rewards a customer with 1 customer loyalty...
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Martz Inc. has a customer loyalty program that rewards a customer with 1 customer loyalty point for every $10 of purchases. Each point is redeemable for a $3 discount on any future purchases. On July 2, 2014, customers purchase products for $302,000 (with a cost of $167,000) and earn 30,200 points redeemable for future purchases.
Determine the transaction price for the product and the customer loyalty points.
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