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Metropolis Books sold 50,600 copies of a best-selling novel in July for $14 each. Included in cach book was a $2 mail-in rebate for a
Metropolis Books sold 50,600 copies of a best-selling novel in July for $14 each. Included in cach book was a $2 mail-in rebate for a future book purchase if the customer sends in proof of purchase with a completed rebate form. Metropolis estimates that 16% of the purchasers will claim the rebate. Calculate the sales revenue and the unearned revenue related to the loyalty program that Metropolis earned in July on this book. (Round answers to decimal places, eg. 5,276. Do not round intermediate calculation) $ Earned revenue Unearned revenue $ e Textbook and Media List of Accounts Prepare the journal entry to record the sale and the unearned revenue Metropolis Books should record. (Credit account titles are w that
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