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hello i need help on this question Skysong's Sports Store has a customer loyalty program in which it issues points to customers for every cash
hello i need help on this question
Skysong's Sports Store has a customer loyalty program in which it issues points to customers for every cash purchase that can be applied to future purchases. For every dollar spent, a customer receives three points. Each point is worth one cent. There is no expiry date on the points. Skysong's estimates that 29% of the points issued will eventually be redeemed. Skysong's has a December 31 year end. The program was started in 2023. During 2023,1,008,000 points were issued. Sales for 2023 were $336,000. In 2024,1,404,000 points were issued. Total sales for 2024 were $468,000. (a) Your answer is incorrect. What is the stand-alone value of the points issued in 2023 ? In 2024Step by Step Solution
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