Sales Return, Perpetual On April 5, a customer returns 20 bicycles with a sales price of $250 per bike to Barrio Bikes. Each bike cost Barrio Bikes $100. The customer had yet to pay on their account. The bikes are in sellable condition. Prepare the journal entry or entries to recognize this return if the company uses the the perpetual inventory system. If journal entry is required, please select at least one debit entry and one credit entry. If journal entry is not required, please select "no entry required". 1. Accounts Payable $5,000 Debit 2. Accounts Receivable $5,000 3. Cost of Goods Sold $2,000 Credit 4. Inventory $2,000 Credit 5. Sales Revenue $5,000 Debit 6. Sales Return & Allowance $5,000