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Pharoah Chef offers weekly meals by delivering all the fresh ingredients to prepare two meals a week. The service includes live cooking classes on how
Pharoah Chef offers weekly meals by delivering all the fresh ingredients to prepare two meals a week. The service includes live cooking classes on how to prepare the meals using the ingredients delivered. The company sells annual subscriptions, and customers who sign up and pay in full prior to the end of January will receive a bonus of two extra meals a week during the month of December, which is when the annual subscription expires. The cost to Pharoah Chef is $20 per meal. In January, the company sold $702,000 in annual subscriptions. What amount of liability related to the subscriptions should be reported on Pharoah Chef's January 31 statement of financial position? (Round answers to 0 decimal places, e.g. 14,674.) $ Is there an additional liability because of the bonus meals offered to subscribers
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