llas Data Review View Comments Share A % Conditional Formatting Format as Table v Paste Font Alignment Number Cells Cell Styles v Editing Add-ins Analyze Data F29 X V fx A B C D E G H s on L M N Formula: Divide, Multiply; Cell Referencing tion 1 IN Using Excel to Account for Estimated Liabilities for a Rebate Student Work Area Program Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with ! PROBLEM cell references to the Problem and work areas as indicated. Seasons Books sold a best-selling novel in July. Included in each book was a mail-in rebate for a future book purchase if the customer sends in proof of purchase with a completed rebate form. a. Calculate the sales revenue and the unearned revenue related to the loyalty program that Seasons has provided the following sales and rebate information Seasons earned in July on this book. 10 land its estimate of the purchasers will claim the rebate. 11 Stand-alone book sales 12 Stand-alone value of rebates 13 Number of copies sold 50,000 Total value 14 Selling price per novel 8.00 in un 15 Value of mail-in rebate 2.00 Allocation: 16 Estimate of rebate claims 10% Earned revenue 17 Unearned revenue 18 19 Prepare the journal entry to record the sale and the unearned revenue Seasons Books should 20 record. Date Debit Credit July Enter Answer + elect destination