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The following events pertain to Bubba's Surf Shop for October 2005. The company uses perpetual inventory method. Record the following transactions in general journal form.

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The following events pertain to Bubba's Surf Shop for October 2005. The company uses perpetual inventory method. Record the following transactions in general journal form. Oct. 1 Link issued $15,000 of common stock to investors. 2) Oct. 2 Purchased $12,000 of merchandise on account with the terms 2/10, n/3 3) Oct. 3 Sold merchandise that cost $10,000 for $18,000 to customers on account with the terms 1/10,n/30 4) Oct. 4 Returned $1,000 of defective merchandise from the Oct. 2 purchase. 5) Oct. 5 Paid freight of $100 on goods sold to customers shipped FOB destination 6) Oct.10 Paid the amount due on the merchandise purchased on Oct. 2 7) Oct.12 Received cash from customers in settlement of the Oct. 3 sale

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