choose the correct answer 100%

A company offers a cash rebate of 1 on each 4 package of light bulbs sold during 2022. Historically, 10% of customers mail in the rebate form. During 2022, 4,000,000 packages of light bulbs are sold, and 140,000 1 rebates are mailed to customers. What is the rebate expense and liability, respectively, shown on the 2022 financial statements dated December 31?

a. 140,000; 260,000

b. 400,000; 400,000

c. 400,000; 260,000

d. 260,000; 260,000