Question: Current Attempt in Progress Save-Always Stores started a customer loyalty program at the beginning of 2020 in which customers making cash purchases of gasoline at
Current Attempt in Progress Save-Always Stores started a customer loyalty program at the beginning of 2020 in which customers making cash purchases of gasoline at Save-Always Gas Bars are issued rewards in the form of grocery coupons. For each litre of gasoline purchased the customer gets a grocery coupon for 3.60 cents that can be redeemed in Save Always Food Stores. The coupons have no expiry date. Save-Always Stores began selling gift cards in 2021 that do not have expiry dates. The following are selected transactions in 2020 and 2021: 1. 2 3 In 2020, the Gas Bars sold 3.90 million litres of gasoline resulting in gas sales of $4,680,000. Grocery coupons were issued with these sales. The expected redemption rate for the grocery coupons is 74%. In 2020, customers redeemed $51.400 of the grocery coupons in the Food Stores In 2021, the Gas Bars sold 4.50 million litres of gasoline resulting in gas sales of $5.850.000. Grocery coupons were issued with these sales. The expected redemption rate for the grocery coupons is 71%. In 2021. customers redeemed $58,600 of the grocery coupons in the Food Stores In 2021, customers purchased $92.200 of gift cards, and $50, 100 of the revenue from gift card sales was to be recorded by the end of the year. 4. 5. Current Attempt in Progress Save-Always Stores started a customer loyalty program at the beginning of 2020 in which customers making cash purchases of gasoline at Save-Always Gas Bars are issued rewards in the form of grocery coupons. For each litre of gasoline purchased the customer gets a grocery coupon for 3.60 cents that can be redeemed in Save Always Food Stores. The coupons have no expiry date. Save-Always Stores began selling gift cards in 2021 that do not have expiry dates. The following are selected transactions in 2020 and 2021: 1. 2 3 In 2020, the Gas Bars sold 3.90 million litres of gasoline resulting in gas sales of $4,680,000. Grocery coupons were issued with these sales. The expected redemption rate for the grocery coupons is 74%. In 2020, customers redeemed $51.400 of the grocery coupons in the Food Stores In 2021, the Gas Bars sold 4.50 million litres of gasoline resulting in gas sales of $5.850.000. Grocery coupons were issued with these sales. The expected redemption rate for the grocery coupons is 71%. In 2021. customers redeemed $58,600 of the grocery coupons in the Food Stores In 2021, customers purchased $92.200 of gift cards, and $50, 100 of the revenue from gift card sales was to be recorded by the end of the year. 4. 5
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