The following are three independent situations.

Culver Rewards Inc. provides rewards services to licensees. Culver records service revenue related to rewards $($granted as reward

vouchers, which can be redeemed at a variety of retailers$)$ and recognizes the cost of redemptions in the year vouchers are sold to

licensees. Culver's past experience indicates that only $80\%$ of the vouchers sold to licensees will be redeemed. Culver's liability for

stamp redemptions was $$14,137,000$ at December $31,2024.$ Additional information for $2025$ is as follows.

If all the vouchers sold in $2025$ were presented for redemption in $2026,$ the redemption cost would be $$5,146,500.$ What amount

should Culver report as a liability for voucher redemptions at December $31,2025?$

Liability for stamp redemptions at December $31,2025$

In packages of its products, Larkspur Inc. includes coupons that may be presented at retail stores to obtain discounts on other

Larkspur products. Retailers are reimbursed for the face amount of coupons redeemed plus $10\%$ of that amount for handling costs.

Larkspur honors requests for coupon redemption by retailers up to $3$ months after the consumer expiration date. Larkspur estimates

that $60\%$ of all coupons issued will ultimately be redeemed. Information relating to coupons issued by Larkspur during $2025$ is as

follows.

What amount should Larkspur report as a liability for unredeemed coupons at December $31,2025?$

Liability for unredeemed coupons $

Cullumber Company sold $707,000$ boxes of pie mix under a new sales promotional program. Each box contains one coupon, which

submitted with $$4\mathrm{.}10,$ entitles the customer to a baking pan. Cullumber pays $$6\mathrm{.}10$ per pan and $$0\mathrm{.}60$ for handling and shipping.

Cullumber estimates that $70\%$ of the coupons will be redeemed, even though only $273,800$ coupons had been processed during $2025.$

What amount should Cullumber report as a liability for unredeemed coupons at December $31,2025?$