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In June, Fox Retailers sold refundable merchandise coupons. Fox received $20 for each coupon redeemable from July 1 to December 31, for merchandise with a
In June, Fox Retailers sold refundable merchandise coupons. Fox received $20 for each coupon redeemable from July 1 to December 31, for merchandise with a retail price of $22. At June 30, how should Fox report these coupon transactions?
Revenues at the merchandise's retail price.
Revenues at the cash received amount.
Unearned revenues at the merchandise's retail price.
Unearned revenues at the cash received amount.
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