Question 4 On October 1, Belton Bicycle Store had an inventory of 20 bicycles at a cost of $200 each. During the month of October, the following transactions occurred. Oct. 4 Purchased 25 bicycles on credit at a cost of $200 each from Kuhn Bicycle Company, terms 2/10, n/30. 6 Sold 15 bicycles on credit to Team America for $300 each, terms 2/10, n/30. 7 Returned 2 defective bicycles purchased from Kuhn Bicycle Company on Oct. 4. 13 Team America returned 1 bicycle. 14 Paid Kuhn Bicycle Company in full, less discount. Instructions Prepare the journal entries to record the transactions assuming the company uses a perpetual inventory system.