July 13: Made refunds to cash customers, $250, for defective merchandise. The cost of defective merchandise was

Fantastic news! We've Found the answer you've been seeking!

Question:

July 13: Made refunds to cash customers, $250, for defective merchandise. The cost of defective merchandise was $40. Journalize the refund. Do not record the expense related to the refund. We will do that in the following step. Date Account Titles Debit Credit Jul. 13