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On November 8,2019 , Bison Ltd. sold Asper Co. products for $5,000 on credit and the products had cost Bison $1,600. The expected return rate

On November 8,2019 , Bison Ltd. sold Asper Co. products for $5,000 on credit and the products had cost Bison $1,600. The expected return rate is 7%. On December 29,2019 , Asper returned products worth $300 to Bison and the returned products had a cost of $96 and are still in saleable condition. What is the balance of Refund Liability for Bison as of November 8,2019? $350 on debit. $350 on credit. $50 on credit. $50 on debit

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