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On October 1, Keiler Motorcycle Shop had an inventory of 20 dirt bikes at a cost of $ 1,150 each. During the month of October,

On October 1, Keiler Motorcycle Shop had an inventory of 20 dirt bikes at a cost of $ 1,150 each. During the month of October, the following transactions occurred: 


Oct. 3  Purchased 10 bikes at a cost of $ 1,150 each from Lyons Bike Company, terms n/30.
6          Sold 10 bikes for $ 1,500 each, terms n/30.
6         The appropriate company paid freight of $ 250 on the October 6 sale was FOB shipping  point.
7          Received credit from Lyons Bike Company for the return of 2 defective bikes.
19         Purchased 8 bikes from Huffy Cycle Company at a cost of $ 1,125 each, terms 2/10,    n/30.
20        Freight of $ 220 on the October 19 purchase was FOB shipping point and paid by the appropriate company.
29        Paid for the October 19 purchase.

Instructions
Using a perpetual inventory system, prepare the journal entries to record the transactions.

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