q25

A company offers a cash rebate of $2 on each $6 package of batteries sold during 2012 . Historically, 10% of customers mail in the rebate form. During 2012,6,000,000 packages of batteries are sold, and 210,000$2 rebates are malled to customers. What is the rebate expense and liability, respectively, shown on the 2012 financial statements dated December 31 ? $420,000;$780,000 $780,000;$780,000 $1,200,000;3780,000 51,200,000;51,200.000