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Determine the record the journal entries for the sale

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Reference no: EM132460370

After the amount due on a sale of $28000, terms 2/10, 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 $16,800.

Problem 1: Record the journal entries for

(a) the sale

(b) payment within the discounted period

(c) the return of inventory and

(d) the cash refund from the perspective (view) of the seller and buyer.

Reference no: EM132460370

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