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Chicken Fillets offers a sales incentive program where customers receive direct credit toward future purchases based upon the dollar amount of purchases today. For every
Chicken Fillets offers a sales incentive program where customers receive direct credit toward future purchases based upon the dollar amount of purchases today. For every $ spent today, the customer will eam points valued at $ that can be redeemed at Chicken Fillets for a variety of menu items. The points expire one year after they're earned. Not all customers will redeem the points in the oneyear window of time. Based upon historical trends, Chicken Fillets estimates that of the credits will be redeemed. Assume Chicken Fillets has $ in sales in March All sales were cash sales. Hint: $ spent $ of rewards. The rewards are considered material in terms of the contract. Which of the following entries will Chicken Fillets make to record sales in March? Ignore the cost of goods sold entry. Carry all decimals in calculations; round the final answer to the nearest dollar. Cash Sales Revenue Cash Sales Revenue Deferred Revenue Cash Sales Revenue Deferred Revenue Cash Sales Revenue Deferred Revenue
Chicken Fillets offers a sales incentive program where customers receive direct credit toward future purchases based upon the dollar amount of purchases today. For every $ spent today, the customer will eam points valued at $ that can be redeemed at Chicken Fillets for a variety of menu items. The points expire one year after they're earned. Not all customers will redeem the points in the oneyear window of time. Based upon historical trends, Chicken Fillets estimates that of the credits will be redeemed.
Assume Chicken Fillets has $ in sales in March All sales were cash sales.
Hint: $ spent $ of rewards. The rewards are considered material in terms of the contract.
Which of the following entries will Chicken Fillets make to record sales in March? Ignore the cost of goods sold entry. Carry all decimals in calculations; round the final answer to the nearest dollar.
Cash
Sales Revenue
Cash
Sales Revenue
Deferred Revenue
Cash
Sales Revenue
Deferred Revenue
Cash
Sales Revenue
Deferred Revenue
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