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Bonita Marina had a customer loyalty program at its gas dock. For every litre of gasoline purchased, the customer would get a redemption award of
Bonita Marina had a customer loyalty program at its gas dock. For every litre of gasoline purchased, the customer would get a redemption award of $0.021, which can be used to purchase products in the company's retail marine store. In July, the company sold 90000 litres of gasoline. By the end of the August, customers redeemed 19000 of the rewards. Bonita should make which of the following entries to record the redemption? 399 Cash Redemption Reward Liability 399 399 O Redemption Reward Liability Cash 399 399 Cash Redemption Expense 399 399 O Redemption Expense Cash 399
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