b) On October 1, Cycle Mania, a bicycle store had an inventory of fifteen (15) twelve-speed bicycles at a cost of $150 each. During the month of October, the following transactions occurred Oct. 3 Purchased 30 bicycles at a cost of $150 each from the Lyons Bicycle Company Ltd; terms n/30. 6 Sold 18 bicycles to Team Australia at $280 each; terms 2/10, n/30. 7 Received credit from the Lyons Bicycle Company Ltd for the return of 2 defective bicycles. 13 Issued a credit to Team Australia for the return of one defective bicycle. 19 Purchased 10 bicycles from Huffy Bicycle Company Ltd at a cost of $175; terms 2/10, n/30. 20 Paid freight of $180 on the October 19 purchase