How does one cancel a transferred call to an internal DN?

Here's the scenario-
The receptionist answers the call, transfers to extension, but not releasing call yet, checking if anyone is there. If there, reception presses release to complete transfer. If not, she cancels transfer by...... asks the caller if they would like to be transferred to the person's voicemail, presses F986.

1. Does the VM transfer cancel the extension xfer?

2. what if they don't want VM and you just want to cancel the transfer?

arrghh! These user questions are killing me!