Sales-Related Transactions After the amount due on a sale of $47,900, terms 1/10, n/eom, is received from a customer within the discount period, the seller consent to the return of the entire shipment for a cash refund. The cost of the merchandise returned is $28,740. a. What is the amount of the refund owed to the customer? 47,421 Featback Check My Wor (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 (a) Accounts Payable Estimated Returns Inventory X (b) Cost of Merchandise Sold X Customer Refunds Payable x Oh My Wor (b) Two entries are needed: one for the sales component, discount and payment and one for the cost of the inventory sold and return of the merchandise to inventory