On October 1, Lance's Bicycle Store had an inventory of 20 ten s peed bicycles al l 5350 each. During the month of October, the following transactions occurred Oct.4 Purchased 40 bicycles at a cost of s350 each from Lamont Bicycle Co terms 1/10, n/30. 4 6 Sold 20 bicycles to Team Minnesota for $500 each, terms 2/10, n/30. 7 Received credit from Lamont Bicycle Company for the return of 2 det 13 14 bicycles. Issued a credit memo to Team Minnesota for the return of a defective Paid Lamont Bicycle Company in full, less discount