On October 1, Belton Bicycle store had an inventory of 20 Bicycles at a cost of $200 each. During the month of October, the following transactions occurred

Oct. 4. Purchased 25 bicycles at a cost of $200 each from Kuhn Bicycle company, terms, 2/10 n/30

6 Sold 15 bicycles to Team America for $300 each, terms 2/10, n/30

7. Received credit from Kuhn Bicycle company for the return of 2 defective bicycles

13. Issued credit to Team America for the return of a defective bicycle

14. Paid Kuhn Bicycle Company in full, less discount

Required:

Prepare the journal entries to record the transactions assuming the company uses a perpetual inventory system