On October 1, Karen's Bicycle Store had an inventory of 20 ten-speed bicycles at a cost of $300 each. During the month of October, the following transactions occurred. Oct. 4 6 Purchased 40 bicycles at a cost of $300 each from Lamont Bicycle Company, terms 1/10, n/30. Sold 20 bicycles to Team Minnesota for $520 each, terms 2/10, n/30. 7 Received credit from Lamont Bicycle Company for the return of 2 defective bicycles. 13 Issued a credit memo to Team Minnesota for the return of a defective bicycle. 14 Paid Lamont Bicycle Company in full, less discount. Prepare the journal entries to record the transactions assuming the company uses a perpetual inventory system. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Oct. 4 Oct. 6 Oct. 6 Oct. 7 Oct. 13 Account Titles and Explanation Inventory Accounts Payable Accounts Receivable Sales Revenue (To record credit sale.) Cost of Goods Sold Inventory (To record cost of goods sold.) Accounts Payable Inventory Sales Returns and Allowances Accounts Receivable (To record goods returned.) Oct 13 v Inventory Oct. 14 Cost of Goods Sold (To record cost of goods returned.) Accounts Payable Cash Inventory Debit Credit