After the amount due on a sale of $28,600, terms n/eom, is received from a customer, the seller consents to the return of the entire shipment for a cash refund. The cost of the merchandise returned is $14,540. 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.

CHART OF ACCOUNTS

General Ledger

	ASSETS
110	Cash
120	Accounts Receivable
125	Notes Receivable
130	Inventory
131	Estimated Returns Inventory
140	Office Supplies
141	Store Supplies
142	Prepaid Insurance
180	Land
192	Store Equipment
193	Accumulated Depreciation-Store Equipment
194	Office Equipment
195	Accumulated Depreciation-Office Equipment

	LIABILITIES
210	Accounts Payable
216	Salaries Payable
218	Sales Tax Payable
219	Customer Refunds Payable
220	Unearned Rent
221	Notes Payable

	EQUITY
310	Common Stock
311	Retained Earnings
312	Dividends

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 on December 31.