Sales-Related Transactions

After the amount due on a sale of $28,000, terms 2/10, n/eom, is received from a customer within the discount period, the seller consents to the return of the entire shipment. The cost of the merchandise returned was $16,800.

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

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b. Journalize the entries made by the seller to record (a) the refund and (b) the return of merchandise.

For a compound transaction, if an amount box does not require an entry, leave it blank.

(a)
(b)