The following transactions are for Tesla Ltd for the month of May 2022. Tesla Ltd buys and sells bikes, and the business uses periodic inventory system: May 1 Purchased bikes for $240,000, terms 2/7, n/30. May 5 Returned $8,500 of the bikes bought on May 1 to the supplier. May 6 Paid for the bikes purchased on May 1. May 12 Sold bikes for $320,00 on account. May 18 Customer returned $6,400 of the bikes sold on May 12. Required: a) Prepare the journal entries to record the transactions. Ignore GST. (5.5 Marks). b) On 25 May, Tesla Ltd purchased bikes for $58,190 (terms 3/7, n/30) from Abacus Ltd. Assuming that this price is GST inclusive. Prepare the journal to record this transaction. Assumes GST applies (1.5 Marks). Narrations are not required.