SNM Bhd offers coupons to its customers in an effort to increase its annual sales. The company
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Question:
SNM Bhd offers coupons to its customers in an effort to increase its annual sales. The company places coupon in each packet of Product A Customers can exchange coupons for decorative clock. In SNM Bhd purchases in cash units of decorative clock at RM each. The company also sold units of Product A at a price of RM each. SNM Bhd estimated that of the coupons will be redeemed. As of December only coupons were presented for redemption.
REQUIRED:
a Prepare the necessary journal entries for SNM Bhd during the year Please show your calculations.
b Determine the asset and liability that relate to the above transactions that would appear on December Statement of Financial Position.
Related Book For
International Marketing And Export Management
ISBN: 9781292016924
8th Edition
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
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