During the Christmas season, Holiday offers a special to its retail customers. Customers can send in 4 UPC codes from boxes of Christmas lights along with $2.50 and receive one box of Christmas lights at no additional cost. In 2017, Holiday sold 1,415,000 boxes of lights for $11.75 per box; the lights cost Holiday $4.25 per box (the actual sales of the 357,000 boxes of bulbs are already included in sales revenue, cash, inventory, and COGS on the trial balance). Holiday estimates that 10% of the box UPC codes will be redeemed. As of December 31, 2017, 102,500 box tops had been redeemed.

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December 1 Sales Revenue 16287500 Cash 1628750... View the full answer