Sales-related transactions After the amount due on a sale of $28,000, 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 $16,800. a. What is the amount of the refund owed to the customer? 11,200 X 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 Refunds Payable Cash Estimated Returns Inventory Inventory Check My Work V 28,000 AGEN 16,800 28,000 16,800 All work saved. Email Instructor Save and Exit Previous Next Submit Assignment for Grading

Transcribed image text