Sales$-$related transactions

After the amount due on a sale of $$30,400,$ terms n$/$eom$,$ is received from a customer, the seller consents to the return of the entire shipment for a cash refund. The cost of the merchandise returned is $$18,240.$

a$.$ What is the amount of the refund owed to the customer?

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$($a$)$ The amount of the refund will be the merchandise returned less the discount.

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.

Customer Refun $$

$$

$$

$$

$$

Estimated Returns Inventory $$

$$

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