Problem 2-3 Problem 2-20 (IFRS) William Company operates a customer loyalty program. The Arianne Com loyalty progr entity grants loyalty points for goods purchased. points when The loyalty points can be used by the customers in exchange Programm ans groceries. T for goods of the entity. The points have no expiry date. During 2020, the entity issued 100,000 award credits expects that 80% of these award credits shall be redeemed The total stand-alone selling price of the award credits granted is reliably measured at P2,000,000. During 203 stand-alone During the manageme redeemed The stan In 2020, the entity sold goods to customers for a total consideration of P8,000,000 based on stand-alone selling price. On Dece The award credits redeemed and the total award credits expected to be redeemed each year are as follows: In 2021 expecte altoget Redeemed Expected to be redeemed 80% 90% 30,000 15,000 2020 2021 During 1. W in 1. What is the revenue from points for 2020? a b. a. 1,600,000 b. 1,500,000 e. 600,000 d. 480,000 C 2. What is the revenue from points for 2021? a. 240,000 b. 200,000 C. 120,000 d. 0 68