Topic: Determining Transaction Price and Refund Liability Blu Inc. sold apparel to customers in May of 2020 for $220,000. At the point of sale, Blu Inc. provided customers 2,200 coupons for 30% off purchases in June and July of 2020. The coupon is considered a separate performance obligation. Blu Inc. estimates the standalone selling price of the apparel to be $220,000 and the standalone selling price of the coupons to be $33,000 ($30 estimated coupon value x 1,100 coupons expected to be redeemed). Determine: 1. Revenue to recognize in May for the sale of apparel 2, Revenue to defer in May for the customer options (coupon promotion) HTML Editor