Question: Please help! Thank uou!! Beaver Ltd . is a retail company that sells sporting goods. It has a customer loyalty program that allows customers to
Please help! Thank uou!!
Beaver Ltd is a retail company that sells sporting goods. It has a customer loyalty program that allows customers to earn points based
on sales made. These points can be accumulated and used for future purchases. One customer loyalty point is awarded for every $ of
purchases. During March X the company recorded sales of $ to customers who were accumulating points. The stand
alone value of these goods sold was $ Beaver has also determined that each point has a fair value of $ The loyalty
account had a balance of $ at the beginning of March. During the month of March, customers used points to
purchase goods in the store.
Required:
Prepare the entries for the above transactions for the month of March XIf no entry is required for a transactionevent select
No journal entry required" in the first account field. Do not round intermediate calculations and round your final answers to
nearest whole dollar.
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