FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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After the amount due on a sale of $26,500, terms 2/10, n/eom, is received from a customer within the discount period, the seller consents to the return of the entire shipment for a cash refund on March 1. The cost of the merchandise returned was $13,050.
Required:
| (a) | What is the amount of the refund owed to the customer? |
| (b) |
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