Problem Two: JC Bikes has the following transactions during May. 1. Analyze and record the transactions of JC Bikes, assuming the company uses a perpetual inventory system May 2 Purchases bikes on account from Bikers R Us Wholesale for $3,300, terms 1/10, 1/30. DR CR A CF Account SE R L E NI May 3 Pays cash for freight costs of $200 on bikes purchased from BRU. E CR A SE R CF Account DR L NI May 5 Returns bikes with a cost of $400 to BRU because part of the order is incorrect. E NI CF Account DR . CR L R SE May 10 Pays the full amount due to BRU. L SE R E NI CF Account DR CR May 30 Sells all Bikes purchased on May 2 (less those returned on May 5) for $4,000 on account. L SE E NI CF Account DR CR 2. Assume that payment to BRU is made on May 24 instead of May 10. Record this payment SE E NI CF Account DR CR 2