Hercula Cycles started July with $15$ bicycles that cost $$54$ each. On July $16,$ Hercula purchased $30$ bicycles at $$78$ each. On July $31,$ Hercula sold $21$ bicycles for $$96$ each.

Requirements

Journalize the July $16$ purchase of merchandise inventory on account and the July $31$ sale of merchandise inventory on account.

$$78$ each.

Requirement $2$