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What is the amount of the refund owed to the customer

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Problem - 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 for a cash refund. The cost of the merchandise returned is $16,800.

Required -

(a) What is the amount of the refund owed to the customer?

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

Reference no: EM132740205

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