Current Attempt in Progress Ultra-energy Company offers a cash rebate of $2 on each $9 package of protein powder sold during 2017. Historically, 20% of their customers mail in the rebate form. During 2017, 3,000,000 packages are sold, and 250,000 $2 rebates are mailed to customers. What is the rebate expense and liability, respectively, shown on the company's 2017 financial statements? O $1,200,000; $500,000 O $500,000: $700,000 O $1,200,000; $700,000 O $500,000: $1,200,000