Question 5 (14 marks) ReadWell is a local business in Wollongong that sells books to the public. The beginning inventory on 1 October consists of 500 books at $25 each. The following transactions took place during October 2020: 3 October 2020 12 October 2020 14 October 2020 ReadWell purchased 300 books on credit from BookWarehouse for $15 each. The shop returned 10 books that were a wrong title to BookWarehouse. The business sold 100 books to the local library at $25 each, 70 books were sold on credit, and 30 books were sold for cash. From the sales made on 14 October 5 books were returned by the library due to wrong titles. 26 October 2020 Required: Prepare the general journal entries to record the transactions, assuming that a perpetual inventory system is used. Narrations are required