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What amount should be recognized as product sales revenue

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Question - Jamaica Company, a retailer of electrical goods, participates in a customer loyalty program operated by an airline. The entity grants program members one air travel point for every P1,000 spent on electrical goods.

Program members can redeem the points for travel with the airline subject to availability. The entity pays the airline P60 for each point.

1. What amount should be recognized as product sales revenue?

a. 4,500,000

b. 4,050,000

c. 5,000,000

d. 2,500,000

2. What is the net revenue from points?

a. 450,000

b. 150,000

c. 200,000

d. 300,000

Reference no: EM132876881

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