What is the rebate promotion liability that Holyoak should report in its December 31, 2009 balance sheet?
A)$20,000
B)$28,000
C)$18,000
D)None of these is correct.This is (8,500 expected 7,100 paid) $20 = $28,000.

Question

Quizplus · Accepted Answer

The rebate promotion liability that Holyoak should report in its December 31, 2009 balance sheet is (8,500 expected 7,100 paid) $20 = $28,000. Therefore, choice B is the correct answer.

What Is the Rebate Promotion Liability That Holyoak Should Report