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Sasha Co. shipped 100,000 rebate coupons in products sold during 2005. The coupons are redeemable...

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Accounting

Sasha Co. shipped 100,000 rebate coupons in products sold during 2005. The coupons are redeemable for $15 each. Each product is sold for $200 and has a cost of $100. Sasha anticipates that 70 percent of the rebate coupons will be redeemed. The coupons expire on December 31, 2006. There were 40,000 coupons redeemed in 2005. What is the amount of liability for coupons on December 31, 2005?

- $450,000.

- $1,050,000.

- $1,500,000.

- $3,000,000.

Do not copy from chegg.

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