Link Back to Chapter 5 (Recording Purchases. Sales, and Returns). The following docu- ments describe two business transactions. Date: Invoice May 14, 20X0 Date: Debit Memo May 20, 20X0 Sold to: BiWheel Bicycle Shop Sold by: Schwinn Company Issued to: Schwinn Company Issued by: BiWheel Bicycle Shop Terms: 2/10 n/30 Items Purchased Bicycles Quantity Price Total Items Returned Quantity Price Bicycles Total 8 $95 $760 1 $95 $.95 1 70 70 1 70 70 5 60 Total 300 $1,130 Total $165 Reason: Damaged in shipment Required Use the general journal to record these transactions and BiWheel's cash payment on May 21. Record the transactions first on the books of BiWheel Bicycle Shop and, second, on the books of Schwinn Company, which makes and sells bicycles. Both BiWheel and Schwinn use a perpetual inventory system as illustrated in Chapter 5. Schwinn's cost of the bicycles sold to BiWheel was $690. Schwinn's cost of the returned merchandise was $80. Round to the near- est dollar. Explanations are not required. Set up your answer in the following format: Date BiWheel Journal Entries Schwinn Journal Entries