During 2020, Dentifrice Toothpaste offers a cash rebate of $1 on each $4 tube of toothpaste sold. Dentifrice anticipates 10% of the rebates will be redeemed. During 2020, 3,000,000 tubes are sold and $160,000 rebate forms are redeemed. How should Dentifrice record the rebate expense and liability on its December 31, 2020, financial statements? O $300,000 expense; $300,000 liability O $300,000 expense; $140,000 liability O $140,000 expense; $140,000 liability O $160,000 expense: $140,000 liability