View Policies Current Attempt in Progress Save-Always Stores started a customer loyalty program at the beginning of 2020 in which customers making cash purchases of gasoline at Save-Always Gas Bars are issued rewards in the form of grocery coupons. For each litre of gasoline purchased, the customer gets a grocery coupon for 3.60 cents that can be redeemed in Save-Always Food Stores. The coupons have no expiry date. Save Always Stores began selling gift cards in 2021 that do not have expiry dates The following are selected transactions in 2020 and 2021 1 In 2020, the Gas Bars sold 3.50 million litres of gasoline resulting in gas sales of $4,200,000 Grocery coupons were issued with these sales. The expected redemption rate for the grocery coupons is 73% 2 In 2020, customers redeemed $47.800 of the grocery coupons in the Food Stores. 3. In 2021, the Gas Bars sold 4.50 million litres of gasoline resulting in gas sales of $5,850,000, Grocery coupons were issued with these sales. The expected redemption rate for the grocery coupons is 80%. In 2021, customers redeemed $56,200 of the grocery coupons in the Food Stores 5 In 2021, customers purchased $87,400 of gift cards, and $47.700 of the revenue from gift card sales was to be recorded by the end of the year 4 Indicate if the following activities will increase, decrease, or have no effect on each of revenues expenses, and profit: 1 Issuing grocery coupons when sales are made 5 = Indicate if the following activities will increase, decrease, or have no effect on each of revenues, expenses and profit: 1 Issuing grocery coupons when sales are made 2 Redeeming grocery coupons 3 Issuing gift cards Redeeming gift cards List of Accounts Record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually If no entry is required, select "No Entry for the account titles and enter for the amounts Round answers to decimal places.es 5275) Debit Credit Date Account Titles and Explanation 2020 1 Question 4 of 10 -/5 III Indicate if the following activities will increase, decrease or have no effect on each of revenues, expenses, and profit: 1 Issuing grocery coupons when sales are made 2 Redeeming grocery coupons 3 Issuing gift cards Increases revenues, expenses and pront Decreases revenues expenses and profit Decrease revenues and profit Increases revenues and profit No effect on revenues, expenses and profit 4 Redeeming gift cards List of Accounts Record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually If no entry is required, select "No Entry for the account tidles and enter for the amounts, Round answers to decimal places, 5275 Debit Credit Date Account Titles and Explanation 2020 1 llowing activities will increase, decrease, or have no effect on each of revenues, expenses, and profit: 1 Issuing grocery coupons when sales are made 2. Redeeming grocery coupons 3. Issuing gift cards 4. Redeeming gift cards No effect on revenues, expenses and profit Increases revenues, expenses and profit Increases revenues and profit Decrease revenues and profit Decreases revenues, expenses and profit List of Accounts Record the above transactions (Credit account titles are automatically indented when the amount is entered. Do not indent manually If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round answers to decimal places, es 5275) Date Account Titles and Explanation 2020 Debit Credit gift cards ming gift cards No effect on revenues, expenses and profit Increases revenues, expenses and profit Increases revenues and profit Decreases revenues, expenses and profit Decrease revenues and pront counts above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. required, select "No Entry" for the account titles and enter o for the amounts. Round answers to decimal places, eg. dicate if the following activities will increase, decrease, or have no effect on each of revenues, expenses, and profit: 1. Issuing grocery coupons when sales are made 2. Redeeming grocery coupons 3. Issuing gift cards 4. Redeeming gift cards List of Accounts Increases revenues and proft Increases revenues, expenses and profit Decreases revenues, expenses and profit Decrease revenues and profit No effect on revenues expenses and pront Record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manual If no entry is required, select "No Entry" for the account titles and enter for the amounts, Round answers to decimal places, eg. 5275.) View Policies Current Attempt in Progress Save-Always Stores started a customer loyalty program at the beginning of 2020 in which customers making cash purchases of gasoline at Save-Always Gas Bars are issued rewards in the form of grocery coupons. For each litre of gasoline purchased, the customer gets a grocery coupon for 3.60 cents that can be redeemed in Save-Always Food Stores. The coupons have no expiry date. Save Always Stores began selling gift cards in 2021 that do not have expiry dates The following are selected transactions in 2020 and 2021 1 In 2020, the Gas Bars sold 3.50 million litres of gasoline resulting in gas sales of $4,200,000 Grocery coupons were issued with these sales. The expected redemption rate for the grocery coupons is 73% 2 In 2020, customers redeemed $47.800 of the grocery coupons in the Food Stores. 3. In 2021, the Gas Bars sold 4.50 million litres of gasoline resulting in gas sales of $5,850,000, Grocery coupons were issued with these sales. The expected redemption rate for the grocery coupons is 80%. In 2021, customers redeemed $56,200 of the grocery coupons in the Food Stores 5 In 2021, customers purchased $87,400 of gift cards, and $47.700 of the revenue from gift card sales was to be recorded by the end of the year 4 Indicate if the following activities will increase, decrease, or have no effect on each of revenues expenses, and profit: 1 Issuing grocery coupons when sales are made 5 = Indicate if the following activities will increase, decrease, or have no effect on each of revenues, expenses and profit: 1 Issuing grocery coupons when sales are made 2 Redeeming grocery coupons 3 Issuing gift cards Redeeming gift cards List of Accounts Record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually If no entry is required, select "No Entry for the account titles and enter for the amounts Round answers to decimal places.es 5275) Debit Credit Date Account Titles and Explanation 2020 1 Question 4 of 10 -/5 III Indicate if the following activities will increase, decrease or have no effect on each of revenues, expenses, and profit: 1 Issuing grocery coupons when sales are made 2 Redeeming grocery coupons 3 Issuing gift cards Increases revenues, expenses and pront Decreases revenues expenses and profit Decrease revenues and profit Increases revenues and profit No effect on revenues, expenses and profit 4 Redeeming gift cards List of Accounts Record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually If no entry is required, select "No Entry for the account tidles and enter for the amounts, Round answers to decimal places, 5275 Debit Credit Date Account Titles and Explanation 2020 1 llowing activities will increase, decrease, or have no effect on each of revenues, expenses, and profit: 1 Issuing grocery coupons when sales are made 2. Redeeming grocery coupons 3. Issuing gift cards 4. Redeeming gift cards No effect on revenues, expenses and profit Increases revenues, expenses and profit Increases revenues and profit Decrease revenues and profit Decreases revenues, expenses and profit List of Accounts Record the above transactions (Credit account titles are automatically indented when the amount is entered. Do not indent manually If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round answers to decimal places, es 5275) Date Account Titles and Explanation 2020 Debit Credit gift cards ming gift cards No effect on revenues, expenses and profit Increases revenues, expenses and profit Increases revenues and profit Decreases revenues, expenses and profit Decrease revenues and pront counts above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. required, select "No Entry" for the account titles and enter o for the amounts. Round answers to decimal places, eg. dicate if the following activities will increase, decrease, or have no effect on each of revenues, expenses, and profit: 1. Issuing grocery coupons when sales are made 2. Redeeming grocery coupons 3. Issuing gift cards 4. Redeeming gift cards List of Accounts Increases revenues and proft Increases revenues, expenses and profit Decreases revenues, expenses and profit Decrease revenues and profit No effect on revenues expenses and pront Record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manual If no entry is required, select "No Entry" for the account titles and enter for the amounts, Round answers to decimal places, eg. 5275.)