Suppose Muddyriver com sells 1,500 books on account for $15 each (cost of these books is $13.500 ) on October 10 to The Avid Reader Several books were sighty damaged in shipment, so Muddyriver com granted a sales allowance of $900 to The Avid Reader on October 13 . On October 25 . The Avd Reader paid the balance due. (Assume both companies use a parpetual inventory system) Read the requirements Requirement 1. Joumalize The Avid Reader's October transactions: (Record debits first, then crecits. Exclude explanations from journal entries ) Oct. 10: Muddyriver.com sells 1,500 books on account for $15 each on October 10 to The Avid Reader Record the transaction on the books of The Avid Reader: Oct. 13 Several books were slighty damaged in shipment, so Muddyriver com granted a sales allowance of 5900 to The Avid Reader Record the transaction on the books of The Avid Reader these books is $13,500 ) of $900 to The Avid Read -) ead the requirs Requirement 1. 1 debits first, then credits. ber 10 to The Avid Reader. Oct 13. Severe on the books of The Avid Reader. Suppose Muddy these books is $13,500 ) or slightly damages Estimated Returns Inventory of $900 to The Avid Reade the balance due Read the require Freight In Merchandise Inventory Requirement 1. Purchases 1 debits first, then credits. Ex Oct. 10: Muddyr ber 10 to The Avid Reader. The Avid Reade Oct. 13. Several books were slightly damaged in shipment, so Muddyriver com granted a sales allowance on the books of The Avid Reader. Requirement 2. Journalize Muddyriver com's October transactions. The company estimates saies feturns at the end of each menth (Riococd debts first, tion credits. Exclude explanations from journal entries) Oct. 10. Muddyriver com sells 1,500 books on account for $15 each (cost of these books is $13,500 ) to The Avid Reader Recond the transaction on the books of Muddyriver com Begin by preparing the entry to joumalize the saie portion of the transaction. Do not record the expense related to the sale. Wo will dothat in the folowing stop Now journalize the expense related to the October 10 sale