Blossom Chef offers weekly meals by delivering all the fresh ingredients to prepare two meals a week. The service includes live cooking classes on how to prepare the meals using the ingredients delivered. The company sells annual subscriptions, and customers who sign up and pay in full prior to the end of January will receive a bonus of two extra meals a week during the month of December, which is when the annual subscription expires. The cost to Blossom Chef is $20 per meal. In January, the company sold $811,200 in annual subscriptions. What amount of liability related to the subscriptions should be reported on Blossom Chef's January 31 statement of financial position? (Round answers to 0 decimal places, e.g. 14,674.) 

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Since the annual subscription expires in December the company has a liability to provide the two ext... View the full answer