On February 1, 2020, Sheffield Ltd. began selling electric scooters that it purchased exclusively from lonone Motors Inc. Ionone Motors offers volume rebates based on the volume of annual sales to its customers and calculates and pays the rebates at its fiscal year end, December 31. Sheffield has a September fiscal year end and uses a perpetual inventory system. The rebate offer that Sheffield received is for a $75 rebate on each scooter that is purchased in excess of 150 units in the calendar year, ending December 31. An additional rebate of $30 is given for all units purchased in excess of 175 units in the same year. By September 30, 2020, Sheffield had purchased 200 units from lonone Motors and had sold all but 35. Although it only made its first purchase on February 1.2020, Sheffield expects to purchase a total of 275 electric scooters from lonone Motors by December 31, 2020. Before arriving at the estimate of 275 electric scooters, Sheffield's management looked carefully at trends in purchases by its competitors and the strong market for sales of electric scooters in the coming months; sales are especially strong among environmentally conscious customers in suburban areas. Management is very confident the 275 electric scooters will be purchased by December 31, 2020. Assuming that Sheffield follows the reporting requirements under ASPE, answer the following questions. X Your answer is incorrect. Calculate the amount of any accrued rebate to be recorded by Shefheld at September 30, 2020, assuming that the rebate is not discretionary and that management has a high degree of confidence in its estimate of the amount of purchases that will occur by December 31, 2020. (Round per unit rate to 2 decimal places, es 1.25 and final answer to 0 decimal places, eg. 5.275) Accrued rebate $ 12.375