Required

Provide the journal entries for

a$.$ The customers' purchase, the sales revenue, and the deferred revenue. Also, provide the entry for the cost of goods sold for the purchase.

b$.$ The redemption of the points. Also, provide the entry for the cost of goods sold for the redemption. c$.$ The expiration of the remaining points.

If you were the auditor and your task was "testing controls over management's review of the assumptions and other inputs used in the estimation," what would you do$?$ Describe the controls. Include a description of why management's possible override of controls is important to be aware of$.$ For example, in the givens above, suppose the customers' purchase of $$100,000$ is on December $31.$ What is the effect of estimating the standalone price higher than the given $$10,000?$