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Customer refundSenger Company sold merchandise of $15,500, terms n/30, to Burris Inc. on...

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Accounting

Customer refundSenger Company sold merchandise of $15,500, terms n/30, to Burris Inc. on April 12. Burris paid Senger for the merchandise on May 12. On June 1, Senger paid Burris $650 for costs incurred by Burris to repair defective merchandise.a. Journalize the entry by Senger Company to record the customer refund to Burris Inc. If an amount box does not require an entry, leave it blank.June 1 Customer Refunds PayableCashV650650FeedbackT Check My VWorkTo record a customer refund, a liability account to estimate refunds that will be paid to customers is used. Depending on whether the customer has paid for the merchandise, a cash refund or credit memo will be issued.b. Assume that instead of paying Burris cash, Senger issued a credit memo to Burris to be used against Burris's outstanding account receivable balance. Journalize the entry by Senger Company to record the issuance of the credit memo. If anamount box does not require an entry, leave it blank.June 1 Accounts Receivable-Burris

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