During 2018, Poseidon Leather Goods sold 800,000 reversible belts under a new sales promotional program. Each belt carried one coupon, which entitles the customer to a $5.00 cash rebate. Poseidon estimates that 70% of the coupons will be redeemed, even though only 350, Poseidon should report a ending liability balance for unredeemed rebates of: 9) 000 coupons had been processed and paid during 2018. At December 31, 2018, a) $1,050,000. b) $1,200,000. c) $ 2,800,000. d) $ 1,750,000. 10) In May of 2018, Zeus Financial Services became involved in a penalty dispute with the EPA. At December 31, 2018, the environmental attorney for Zeus indicated that an unfavorable utcome to the dispute was probable. The additional penalties were estimated to be 770,000 but could be as high as $1,170,000, with all amounts equally likely. After the year- end, but before the 2018 financial statements were issued, the parties came to a settlement for $900,000. Zeus should have reported an accrued liability on its December 31, 2018, balance sheet of: a) 900,000 b) $ 1,170,000. c) $ 970,000 d) 770,000