Bike World, Inc., wholesales a line of custom road bikes. Bike World's inventory, as of November each. Bike World's trial balance as of November 30 appears as follows Bike World, Inc. Trial Balance November 30, 2014 ACCOUNT Cash Accounts Receivable Inventory Supplies Office Equipment Accumulated Depreciation, Office Equipment Accounts Payable Note Payable, Long-Term Common Stock Retained Earnings Dividends Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold Sales Commissions Expense Office Salaries Expense Office Rent Expense Shipping Expense Total DEBIT CREDIT 9,150 12,300 36,300 900 18,000 3,000 1,325 5,000 8,500 21,425 4,250 150,950 1,700 1,275 78,900 11,300 7,425 5,500 3,200 During the month of December 2014 Bike World, Inc., had the following transactions: Dec 4 Purchased 10 bikes for $1,575 each from Truspoke Bicycle, Co., on account. Terms, 2/15, n/45, FOB destination. 6 Sold 14 bikes for $2.100 each on account to 8 Paid $375 freight charges to deliver goods to Allsport, Inc 2 Purchased $450 of supplies on account from Office Express. 14 Received payment in full from Allsport, Inc., for the Dec 6 sale. Allsport, Inc. Terms, 3/10, n/30, FOB destination. November 17 sale. Terms were n/30. Terms, 2/10, n/30, FOB destination. Purchased 15 bikes for $1,600 each from Truspoke Bicycle, Co., on account. Terms, 2/15, n/45, FOB destination. Paid Truspoke Bicycle, Co., the amount due from the 16 18