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A Grocery store gives loyalty points @2 for each dollar spent in the store. Customers can redeem these loyalty points in blocks of 1,000. Each
A Grocery store gives loyalty points @2 for each dollar spent in the store. Customers can redeem these loyalty points in blocks of 1,000. Each block is eligible for a free box of cookies, which costs $10 for the store to buy. During the month of March 2022, the total sales in the store were $86,500. Historically, only 90% of the customers redeem their points to claim a free box of cookies. Please calculate the cost to the store for given the month and record a journal entry
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