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In 2021, Fischers Inc. offers a coupon for $20 off qualifying purchases of its new line of products. Fischers sold 12,000 of these products
In 2021, Fischers Inc. offers a coupon for $20 off qualifying purchases of its new line of products. Fischers sold 12,000 of these products during the year. By year-end of 2021, 9,100 coupons had been redeemed and the $20 reduction of purchase price provided to customers. Fischers's historical experience with such coupons indicates that 80% of customers use the coupon. Fischers recognizes coupon expense in the period coupons are Issued. What is the expense that Fischers' should report for its promotional coupons in its 2021 income statement? Multiple Choice $192,000 $194,000. $240,000 $182,000
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