The coupons expire on december 31 2012. there were 45, Ask an Expert

Accounting

General Product, Inc. shipped 100 million coupons in products it sold in 2011. The coupons are redemable for thirty cents each. General anticipates that 70% of the coupons will be redeemed. The coupons expire on December 31, 2012. There were 45 million coupons redeemed in 2011, and 30 million redeemed in 2012.

What was General's coupon promotion expense in 2011?

a. $7.5 million

b. $30.0 million

c. $13.5 million

d. $21.0 million

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9402413

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