On October 1, Lance's Bicycle Store had an inventory of 20 ten speed bicycles at a cost of $350 each. During the month of October, the following transactions occurred.

Oct.	4		Purchased 40 bicycles at a cost of $350 each from Lamont Bicycle Company, terms 1/10, n/30.
	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 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.

Instructions

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

Please show work.