Crane Marina has a customer loyalty program at its gas dock. For every litre of gasoline purchased, the customer receive
Posted: Sun Jun 05, 2022 7:02 pm
Crane Marina has a customer loyalty program at its gas
dock. For every litre of gasoline purchased, the customer receives
a redemption reward, which can be used to purchase products in the
company’s retail marine store. In July, the marina
sold 90000 litres of gasoline. The entry to record the
liability for the July sales would be a credit to ______.
A) Unearned Revenue–Loyalty Program
B) Sales Discounts
C) Cash
D) Refund Liability
dock. For every litre of gasoline purchased, the customer receives
a redemption reward, which can be used to purchase products in the
company’s retail marine store. In July, the marina
sold 90000 litres of gasoline. The entry to record the
liability for the July sales would be a credit to ______.
A) Unearned Revenue–Loyalty Program
B) Sales Discounts
C) Cash
D) Refund Liability