Hi there, im not understanding how to find the unearned revenue amount. i have tried the following: $7710, $20000, $7697 but none of them have worked.

To increase sales, Martinez Inc., a public company following IFRS, implemented a customer loyalty program that rewards a customer with one loyalty point for every $30 of merchandise purchased. Each point is redeemable for a $2 discount on any purchases of Martinez merchandise in the next three years. After the program launched, during 2020, customers bought merchandise for $300,000 (all products are sold to provide a 30% gross profit) and earned 10,000 points redeemable for future purchases. The stand-alone selling price of the merchandise sold is $300,000. Based on prior experience with incentive programs like this, Martinez expects 7,900 points to be redeemed related to these sales. Your answer is partially correct. Prepare the journal entries for cash sales including the issuance of loyalty points for Martinez in 2020. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Round percentage allocations to 2 decimal places, eg. 52.75 and final answers to decimal places, eg. 5,275) Account Tities and Explanation Debit Credit Cash 300000 7697 Unearned Revenue Sales Revenue 292290 (To record cash sales of products subject to loyalty points) Cost of Goods Sold 210000