On October 1, Benji's Bicycle Store had an inventory of 20 ten speed bicycles at a cost of $200 each. During the month of October, the following transactions occurred.

Oct. 4		Purchased 40 bicycles at a cost of $200 each from Monroe Bicycle Company, terms 1/10, n/30.
6		Sold 25 bicycles to Team Wisconsin for $330 each, terms 2/10, n/30.
7		Received credit from Monroe Bicycle Company for the return of 2 defective bicycles.
13		Issued a credit memo to Team Wisconsin for the return of a defective bicycle.
14		Paid Monroe Bicycle Company in full, less discount.