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please help me A. On 1 October 2018, Rodalink Malaysia Store had a merchandise inventory of kids speed bicycles made in China, at a cost
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A. On 1 October 2018, Rodalink Malaysia Store had a merchandise inventory of kids speed bicycles made in China, at a cost of RM200 each. During the month of October, the following transactions occurred. Oct.4 Purchased 30 bicycles at a cost of RM200 each from KSH Cycles Malaysia, terms 2/10,n/30. 6 Sold 18 bicycles to Bike Plus Malaysia for RM300 each, terms 2/10, n/30. 7 Received credit memo from KSH Cycles Malaysia for the return of 2 defective bicycles. 13 Issued a credit memo to Bike Plus Malaysia for the return of a defective bicycle. 14 Paid KSH Cycles Malaysia in full. 15 Received payment from Bike Plus Malaysia in full. 23 Sold 10 bicycles at a price of RM3,400 to Stereo Enterprise with terms 5/10, n/30. 25 Issued a credit memo to Stereo Enterprise for the return of a defective bicycle. 30 Received payment from Stereo Enterprise in full, less discount. REQUIRED: Prepare the journal entries to record the transactions assuming the company uses a perpetual inventory system. (Explanation is not required). (15 Marks)Step by Step Solution
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