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.
what is the amount of the refund owed to the customer? $
journalize the entries made by the seller to record (a) the refund and ( b) the return of merchandise.
a. sales returned and allowances sales discounts cash
b. merchandise inventory cost of merchandise sold