On July 1, Racquets Plus had an inventory of 20 tennis racquets at a cost of $125 each. Racquets Plus uses a perpetual inventory system. During the month of July, the following transactions occurred:

Jul	4		Purchased 25 racquets at a cost of $125 each from the Tennis Gear Corporation, terms 2/10, n/30.
	5		Paid freight of $100 on the July 4 purchase.
	6		Sold 10 racquets from the July 1 inventory to Team Canada for $225 each, terms 2/10, n/30.
	7		Received a credit from Tennis Gear for the return of 2 defective racquets.
	8		Sold two racquets from the July 1 inventory for $550 cash.
	13		Issued a credit memo to Team Canada for the return of a defective racquet.
	14		Paid Tennis Gear in full.
	15		Received payment from Team Canada.

Instructions

Record the July transactions for Racquets Plus.