QUESTION 93 Customer options — loyalty points redeemable by multiple parties Retailer offers a customer loyalty program in partnership with Hotel whereby Retailer awards one customer loyalty point for each dollar a customer spends on goods purchased from Retailer. Program members can redeem the points for accommodation with Hotel or discounts on future purchases with Retailer. The transaction price allocated to each point based on its relative estimated standalone selling price is $ 0.01. 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 has not satisfied its performance obligation as it must stand ready to transfer goods or services if the customer elects not to redeem points with Hotel. How should Retailer account for points issued to its customers?