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Senger Company sold merchandise of $14,500, terms 2/10, n/30, to Burris Inc. on April 23. Burris paid Senger for the merchandise on May 2. On May 12, Senger paid Burris $720 for costs incurred by Burris to repair defective merchandise.
Problem a. Journalize the entry by Senger Company to record the customer refund to Burris Inc. If an amount box does not require an entry, leave it blank.
Problem B. Assume that instead of paying Burris cash, Senger issued a credit memo to Burris to be used against Burris's outstanding account receivable balance. Journalize the entry by Senger Company to record the issuance of the credit memo. If an amount box does not require an entry, leave it blank.
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