It is. I had a similar situation (not such large an order) where money was taken from “Available now” for an refunded order when that order’s payment was still in “Account Level Reserve”.
Just want to add an update and edit to what I wrote previously.
When I had that refund I mentioned above, my order payment transactions were all in “Account Level Reserve” (Amazon’s temporary process for some of the sellers), which the amount were counted as “released transaction” even though they were not showing up in “Available now” yet, so in that situation, the dollar amount were taken from “Available now” before the amount were added to it.
For a few weeks now, Amazon have changed the process, and all my order payment went into “Deferred transactions” with an “Est. transaction release date” now. Today I got a refund for one of those “Deferred transaction” order, the refunded amount was not taken out of my “Available now”, it was added as a “refund” transaction in “Deferred transaction” list with the same “Est. transaction date” as the original order, so on that date, both transactions will be released, and whatever need to be added and taken away from “available now” will happen at the same time. So the money is not going to be taken away before it was added to the pot. That’s a little better.
I’m pretty sure we are in the same position as most of you…it’s very obvious that Amazon is holding payments way longer than they said they would. It’s also obvious they are making an ungodly amount of money in interest and investments on keeping that money even for an extra few days.