Johnson & Sons Corporation offers a cash rebate of $1 on each $5 package of batteries sold during 2021. Historically, 10% of customers mail in the rebate form. During 2021, 1,000,000 packages of batteries are sold, and 40,000 $1 rebates are mailed to customers. What is the rebate expense and liability, respectively, shown on the 2021 financial statements dated December 312 O a $40,000 $60,000 O b. 560,000; $60,000 O c $100,000 $100,000 od $100,000, $60,000