Chapter $05$ Homework

Sales$-$related transactions

After the amount due on a sale of $$31,100,$ terms $\frac{n}{e}om,$ is received from a customer, the seller consents to the return of the entire shipment for a cash refund. The cost of the merchandise returned is $$18,660.$

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. If an amount box does not require an entry, leave it blank.