On 01-01-21, Hazel began giving its customers one coupon on each $150 package of Hoosier that it sold. The coupons do not expire. Upon submission of two coupons, Hazel will give the customer an iPhone case. Hazel estimates 30% of the available coupons will be presented for redemptions. In 2021, Hazel sold 18,000 packages of Hoosier. In 2021, customers redeemed 1,620 coupons. Hazel purchases the iPhone cases for $16 each.

What is Hazel's rebate expense amount for the year ended 12-31-21?

As of 12-31-21, what is Hazel's rebate liability amount?

Answer rating: 100% (QA)

To calculate Hazels rebate expense and rebate liability for the year ended 123121 we can follow thes... View the full answer