After the amount due on a sale of ($ 18,500), terms (2 / 10, mathrm{n} /) eom,
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After the amount due on a sale of \(\$ 18,500\), terms \(2 / 10, \mathrm{n} /\) eom, is received from a customer within the discount period, the seller consents to the return of the entire shipment. The cost of the merchandise returned was \(\$ 11,100\).
(a) What is the amount of the refund owed to the customer?
(b) Journalize the entries made by the seller to record the return and the refund.
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Related Book For
Financial Accounting
ISBN: 9780324380675
10th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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