Business, 20.12.2019 23:31 lovelife78
Palmer frosted flakes company offers its customers a pottery cereal bowl if they send in 3 boxtops from palmer frosted flakes boxes and $1. the company estimates that 60% of the boxtops will be redeemed. in 2018, the company sold 1,350,000 boxes of frosted flakes and customers redeemed 660,000 boxtops receiving 220,000 bowls. if the bowls cost palmer company $3 each, how much liability for outstanding premiums should be recorded at the end of 2018?
a. $540,000
b. $100,000
c. $150,000
d. $276,000
Answers: 2
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Palmer frosted flakes company offers its customers a pottery cereal bowl if they send in 3 boxtops f...
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