he Government National Mortgage Association: A buys conventional mortgages from financial institutions for repackaging as pass through certificates B buys FHA and VA guaranteed mortgages from financial institutions for repackaging as pass through certificates C gives its implied backing to the payment of interest and principal on mortgages purchased from financial institutions D issues mortgages directly on U. S. Government subsidized housing

Palmer frosted flakes company offers its customers a pottery cereal bowl if they send in 3 boxtops from palmer frosted flakes boxes and $1. the company estimates that 60% of the boxtops will be redeemed. in 2012, the company sold 675,000 boxes of frosted flakes and customers redeemed 330,000 boxtops receiving 110,000 bowls. if the bowls cost palmer company $3 each, how much liability for outstanding premiums should be recorded at the end of 2012?