Journalize the entries made by the seller to record the return and the refund.
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After the amount due on a sale of $18,500, 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 $11,100. (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.
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