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Warturtle Company includes a coupon in each box of its cereal. For the five coupons plus P1.50, customers are entitled to a plastic doll that

Warturtle Company includes a coupon in each box of its cereal. For the five coupons plus P1.50, customers are entitled to a plastic doll that costs Warturtle P4.00. The company expects 40% of the premiums to be redeemed. In 2019, Warturtle sold 600,000 boxes of cereal and distributed 20,000 dolls. What is Camilles estimated liability for unredeemed premiums on December 31, 2019?

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