QUESTION 92 Customer options — loyalty points redeemable by another party Retailer participates in a customer loyalty program in partnership with Airline that awards one air travel point for each dollar a customer spends on goods purchased from Retailer. Program members can only redeem the points for air travel with Airline. The transaction price allocated to each point based on its relative estimated standalone selling price is $ 0.01. Retailer pays Airline $.009 for each point redeemed. Retailer sells goods totaling $ 1 million and grants one million points during the period. Retailer allocates $ 10,000 of the transaction price to the points, calculated as the number of points issued (one million) multiplied by the allocated transaction price per point ($ 0.01). Retailer concludes that it is an agent in this transaction in accordance with the guidance in the revenue standard (refer to RR 10). How should Retailer account for points issued to its customers?