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 2.80 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. 2. 3. 4. 5. In 2020, the Gas Bars sold 3.20 million litres of gasoline resulting in gas sales of $3,840,000. Grocery coupons were issued with these sales. The expected redemption rate for the grocery coupons is 68% In 2020, customers redeemed $55,000 of the grocery coupons in the Food Stores. In 2021, the Gas Bars sold 5.40 million litres of gasoline resulting in gas sales of $7,020,000. Grocery coupons were issued with these sales. The expected redemption rate for the grocery coupons is 80%. In 2021, customers redeemed $58,000 of the grocery coupons in the Food Stores. In 2021, customers purchased $91,000 of gift cards, and $49,500 of the revenue from gift card sales was to be recorded by the end of the year.