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Question 19 of 21 - / 18 View Policies Current Attempt in Progress On October 1, the Blossom Bicycle Store had an inventory of 22 ten speed bicycles at a cost of $160 each. During the month of October, the following transactions occurred. Assume Blossom uses a perpetual inventory system. Purchased 192 bicycles at a cost of $150 each from the Nixon Bicycle Company, terms 2/10,n/30. Paid freight of $900 on the October 4 purchase. Sold 12 bicycles from the October 1 inventory to Team America for $350 each, terms 2/10, 1/30. Received credit from the Nixon Bicycle Company for the return of 20 defective bicycles. Issued a credit memo to Team America for the return of a defective bicycle. Paid Nixon Bicycle Company in full, less discount. Oct. 4 5 6 7 13 14 Prepare the journal entries to record the transactions assuming the company uses a perpetual inventory system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to O decimal places, eg. 2,520. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record credit sale) arch o ei cu mm WP Tee Question 19 of 21 - / 18 III (To record credit sale) (To record cost of good sold) > > (To record credit granted for returned goods) (To record cost of good returned) A