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in a customer loyalty program operated by an airline. Jamaica Company, a retailer of electrical goods, participa The entity grants program members one air travel point Problem 2-22 (IFRS) every P1,000 spent on electrical goods. Program members can redeem the points for travel with airline subject to availability. The entity pays the airline for each point. During the current year, the entity sold electrical goods i consideration totaling P4,500,000 based on stand-alon selling price and granted 5,000 points with stand-alone selli price of P100 per point. 1. What amount should be recognized as product sale revenue? 44500 000 MX4500 - 900 64 a. 4,500,000 + (5000KR b. 4,050,000 5070 UVO c. 5,000,000 d. 2,500,000 2. What is the net revenue from points? a. 450,000 b. 150,000 c. 200,000 d. 300,000