please help with c & d
A large clothing retaler chalr, Kolss. offers a sales incentwe program where customels receive drect credit toward future purctases based upon the dollar arnount of purchases today: for every $50 spent today, the customer will earn a $6 cred to be used ot Kolls in two weeks. The credit exptres 5 doys after it becomes active Not all customiers war redeern the credit in. the s day window of time Based opon historical trends, Kolls estimates that 35 s of the credits wal be redeemed. a. Deterinine how inany performance obligations are intluded in a sales transaction daring the sales incentive ptogram. b. Assuming that kots sold 5350,000 of merchandise (cost of 5140,000) during the first day of the sales kicentwe penod and 7,000, 56 cretits were 8 hen, record the joumat entryiey) to record sales revenue. Assume an sales were cash sales Note: Carry all deamals in calculabocss roumd the final abswer to the nearest dollar. ic. Record a summary entry to recognize revenue uf any daring the 5 -day merchandise credit redemption period, assuming thot ask of the credits are redeerted. A large clothing retaler chalr, Kolss. offers a sales incentwe program where customels receive drect credit toward future purctases based upon the dollar arnount of purchases today: for every $50 spent today, the customer will earn a $6 cred to be used ot Kolls in two weeks. The credit exptres 5 doys after it becomes active Not all customiers war redeern the credit in. the s day window of time Based opon historical trends, Kolls estimates that 35 s of the credits wal be redeemed. a. Deterinine how inany performance obligations are intluded in a sales transaction daring the sales incentive ptogram. b. Assuming that kots sold 5350,000 of merchandise (cost of 5140,000) during the first day of the sales kicentwe penod and 7,000, 56 cretits were 8 hen, record the joumat entryiey) to record sales revenue. Assume an sales were cash sales Note: Carry all deamals in calculabocss roumd the final abswer to the nearest dollar. ic. Record a summary entry to recognize revenue uf any daring the 5 -day merchandise credit redemption period, assuming thot ask of the credits are redeerted