Presented below are three independent situations. 1. Splish Stamp Company records stamp service revenue and provides for the cost of redemptions in the year stamps are sold to licensees. Splish's past experience indicates that only 80% of the stamps sold to licensees will be redeemed. Splish's liability for stamp redemptions was $13,490,800 at December 31, 2019. Additional information for 2020 is as follows. Stamp service revenue from stamps sold to licensees $9,115,400 Cost of redemptions (stamps sold prior to 1/1/20) 5,965,300 If all the stamps sold in 2020 were presented for redemption in 2021, the redemption cost would be $5,457,300. What amount should Splish report as a liability for stamp redemptions at December 31, 2020? Liability for stamp redemptions at December 31, 2020 $ 2. In packages of its products, Blossom Inc. includes coupons that may be presented at retail stores to obtain discounts on other Blossom products. Retailers are reimbursed for the face amount of coupons redeemed plus 10% of that amount for handling costs. Blossom honors requests for coupon redemption by retailers up to 3 months after the consumer expiration date. Blossom estimates that 60% of all coupons issued will ultimately be redeemed. Information relating to coupons issued by Blossom during 2020 is as follows. Consumer expiration date 12/31/20 Total face amount of coupons issued $834,500 Total payments to retailers as of 12/31/20 350,560 What amount should Blossom report as a liability for unredeemed coupons at December 31, 2020? Liability for unredeemed coupons $ 3. Blue Company sold 666,000 boxes of pie mix under a new sales promotional program. Each box contains one coupon, which submitted with $4.30, entitles the customer to a baking pan. Blue pays $6.30 per pan and $0.80 for handling and shipping. Blue estimates that 70% of the coupons will be redeemed, even though only 263,100 coupons had been processed during 2020. What amount should Blue report as a liability for unredeemed coupons at December 31, 2020? Liability for unredeemed coupons at December 31, 2020 $