On Octoher 1 , the Oriole Bicycle Store had an inventory of 29 electric bicycles at a cost of $156 each Ouring the month of October the followhin thanstictions ocetured Assume Orlole uses a perpetwat imventonysystem Oct 4 Purchased 200 bicycles at a cost of $156 each from the Ace Bicycle Company, terms 2 10,n 30 5 Paid freight of $1,000 on the October 4 purchase 6 Sold 19 bicycles from the October 1 imventory to Team America for $310 each, terms 2 10,n 30 7 Received credit from the Ace Bicycle Company for the return of 28 defective bicycles 13 Iswed a credit memo to Team America for the return of a bicycle 14 Pald Ace Bicycle Company infull, less discount Prepare the journal entries to record the transactions assuming the company uses a perpetual inventory system (Credit account titles are automatically indented when the amount is entered Do not indent manually Record journal entries in the order presented th the probiem Uist aff debit entrles before credit entrles Round answers to 0 decimat places, e s 5,275 ) (To record credit sale) (To record cost of goods sold) (To record credit granted for returned goods) (To record cost of goods returned)

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On Octoher 1 , the Oriole Bicycle Store had an inventory of 29 electric bicycles at a cost of $156 each  Ouring the month of October  the followhin thanstictions ocetured Assume Orlole uses a perpetwat imventonysystem  Oct  4 Purchased 200 bicycles at a cost of $156 each from the Ace Bicycle Company, terms 2 10,n 30  5  Paid freight of $1,000 on the October 4 purchase  6 Sold 19 bicycles from the October 1 imventory to Team America for $310 each, terms 2 10,n 30  7 Received credit from the Ace Bicycle Company for the return of 28 defective bicycles  13  Iswed a credit memo to Team America for the return of a bicycle  14 Pald Ace Bicycle Company infull, less discount  Prepare the journal entries to record the transactions assuming the company uses a perpetual inventory system  (Credit account titles are automatically indented when the amount is entered  Do not indent manually  Record journal entries in the order presented th the probiem  Uist aff debit entrles before credit entrles  Round answers to 0 decimat places, e s  5,275 ) (To record credit sale) (To record cost of goods sold) (To record credit granted for returned goods) (To record cost of goods returned)

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On Octoher 1 , the Oriole Bicycle Store had an inventory of 29 electric bicycles at a cost of $156 each. Ouring the month of

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