Question 181 pts Use the information for the next three (3) questions. Seva Company operates a customer loyalty program. The entity grants program members loyalty points when they spend a specified amount on purchases. Program members can redeem the points for further purchases. The points have no expiry date. During 2020, the customer earned 60,000 points. Management expects that 100% of these points will be redeemed. The stand-alone selling price of each loyalty point is estimated at P20. The sales during 2020 amounted to P6,800,000 based on stand-alone selling price. On December 31, 2020, 28,800 points have been redeemed in exchange for purchases. In 2021, the management revised expectations and now expects 90% of the points to be redeemed. 9,000 points were redeemed during the year. How much of the sales should be allocated to the award points? Flag this Question Question 191 pts How much should be recognized as revenue for 2020? Flag this Question Question 201 pts How much should be recognized as revenue for 2021? = Flag this Question Question 211 pts Griffin Company mails coupons to consumers which may be presented at a stated expiration date at retail food stores to obtain discounts on certain Griffin products. Retailers are reimbursed for the face value of coupons redeemed, plus 10% of coupon face value as compensation for handling costs. The entity honours requests for coupon redemption by retailers received up to three months after the consumer expiration date. Based on experience, 60% of the coupons issued ultimately are redeemed. The entity provided the following information with respect to two separate series of coupons issued during 2020: Series A Series B Consumer expiration date September 30, 2020 December 31, 2020 Total face value of coupons issued 1,500,000 3,000,000 Total payments to retailers on December 31, 2020 907,500 607,500 What amount should be reported as liability for unredeemed coupons on December 31, 20207