(Answered) Question-albertson corporation began a special promotion in

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Albertson Corporation began a special promotion in July 2013 in an attempt to increase sales. A coupon was placed in each box of product. Customers could send in five coupons for a free prize. Each prize cost Albertson Corporation $3.00. Albertson's management estimated that 80% of the coupons would be redeemed. For the six months ended December 31, 2013, the following information is available:

Required:

What is the estimated liability for the premium offer at December 31, 2013?

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