3. Journal Entries (10 points) INSTRUCTIONS: For each event, prepare the appropriate journal entry. There may be than one debit and credit for each transaction. Refer to the Chapter 4 handout for help with account titles. Please make sure that your answer is clearly marked and separated from any scratch work. A. On January 1, Cloud 9 Superstore purchased 25 bikes from Turbo Goat Bikes for $100 each. The goods were shipped FOB destination. Shipping costs were $50. The bikes were purchased on account with payment terms of 1/15, n/45. Record the journal entry for Cloud 9. B. On January 15, Cloud 9 Superstore sold 10 bikes to various customers for $160 each. The sales were paid for in cash. P