Question: Partial Question 25 0.5 / 1 pts Sun Devil Company sold backpacks to customers in August, 20x1 at full price for a total of $12,000.

Partial Question 25 0.5 / 1 pts Sun Devil Company sold

Partial Question 25 0.5 / 1 pts Sun Devil Company sold backpacks to customers in August, 20x1 at full price for a total of $12,000. At the point of sale, Sun Devil provided customers 120 coupons for $40 off the purchase of a backpack in September 20x1. The coupon is considered a separate performance obligation. Sun Devil estimates the standalone selling price of the backpacks to be $12,000 and the standalone selling price of the coupons to be $2,400 ($40 x 60 coupons expected to be redeemed) Required: Determine the revenue that Sun Devil should report for August for the sale of full price backpacks, and the amount of revenue deferred for the coupons. a. August Revenue for full priced backpacks: $ 10000 b. Deferred Revenue for Coupons: $ 400

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