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NW X Cha X WP Wil X Pra x Mic X Cal x FC assessment-player/index.html?launchld=a59acd81-232d-4e53-a899-887aea99736c# oksh... op1.fun - Downloa... Nelnet Atmospheric House... Tech Tran
NW X Cha X WP Wil X Pra x Mic X Cal x FC assessment-player/index.html?launchld=a59acd81-232d-4e53-a899-887aea99736c# oksh... op1.fun - Downloa... Nelnet Atmospheric House... Tech Tran Question 4 of 10 < > -/14 E! View Policies Current Attempt in Progress On October 1, the Kile Bicycle Store had an inventory of 20 ten speed bicycles at a cost of $150 each. During the month of October, the following transactions occurred. Assume Kile uses a perpetual inventory system. Oct. 4 Purchased 180 bicycles at a cost of $145 each from the Nixon Bicycle Company, terms 2/10, n/30. 5 Paid freight of $900 on the October 4 purchase. 6 Sold 10 bicycles from the October 1 inventory to Team America for $250 each, terms 2/10, n/30. 7 Received credit from the Nixon Bicycle Company for the return of 8 defective bicycles. 13 Issued a credit memo to Team America for the return of a defective bicycle. 14 Paid Nixon Bicycle Company in full, less discount. 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, e.g. 2,520. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation (To record credit sale) P Debit Credit
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