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The premium liability at december 31 is

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Sunland Company includes one coupon in each bag of dog food it sells. In return for eight coupons, customers receive a leash. The leashes cost Sunland $4 each. Sunland estimates that 40 percent of the coupons will be redeemed. Data for 2017 and 2018 are as follows:

2017 Bags of dog food sold 520000 Leashes purchased 18000 Coupons redeemed 110000

2018 Bags of dog food sold 610000 Leashes purchased 22000 Coupons redeemed 150000

The premium liability at December 31, 2017 is?

Reference no: EM132344313

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The premium liability at december 31 is : Sunland Company includes one coupon in each bag of dog food it sells. In return for eight coupons, customers receive a leash.
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