Question
Metropolis Books sold 51,600 copies of a best-selling novel in July for $10 each. Included in each book was a $1 mail-in rebate for a
Metropolis Books sold 51,600 copies of a best-selling novel in July for $10 each. Included in each book was a $1 mail-in rebate for a future book purchase if the customer sends in proof of purchase with a completed rebate form. Metropolis estimates that 9% of the purchasers will claim the rebate. (a) Calculate the sales revenue and the unearned revenue related to the loyalty program that Metropolis earned in July on this book. (Round answers to 0 decimal places, e.g. 5,276. Do not round intermediate calculation.)
Earned revenue $
Unearned revenue $
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