After the amount due on a sale of $40,400, 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 $24,240.

Question Content Area

a. What is the amount of the refund owed to the customer? fill in the blank 1 of 1$

Question Content Area

b. Journalize the entries made by the seller to record the return and the refund. If an amount box does not require an entry, leave it blank.

blank	Account	Debit	Credit
blank	CashCost of Goods SoldCustomer Refunds PayablePurchasesSales	- Select -	- Select -
	CashCost of Goods SoldCustomer Refunds PayablePurchasesSales	- Select -	- Select -
blank	Accounts PayableAccounts ReceivableEstimated Returns InventoryInventorySales	- Select -	- Select -
	Accounts PayableAccounts ReceivableEstimated Returns InventoryInventorySales	- Select -	- Select -