The provided documents describe two business transactions (Click the icon to view the invoice.) (Click the icon to view the debit memo.) Eric's Bicycle Shop paid the balance due on March 21. Both Eric's Bicycle Shop and Smoitz Company use a perpetual inventory system. Smoltz Company's cost of the bicycles sold to Eric's Bicycle Shop was $1,583. Smoltz Company's cost of the returned merchandise was $339. Required | 1. Record these transactions and Eric's cash payment on March 21 in the books of Eric's Bicycle Shop. 2. Record what the books of Smoltz Company, which makes and sells bicycles, would record. Print Done Invoice Invoice March 14, 2020 Date: Sold to: Eric's Bicycle Shop Sold by: Smoltz Company Terms: 2/10, n/30 Items Purchased Bicycles Quantity Price Total 9 $ 163 $ NC 117 1,467 234 1,196 92 CLOT $ 2,897 - - . Print Done . . Debit Memo Debit Memo March 20, 2020 Date: Sold to: Smoltz Company Sold by: Eric's Bicycle Shop Items Returned DC Bicycles Quantity Price Total 3 $ 163 $ 489 234 723 Total Reason: Damaged in shipment Print Done Requirement 1. Record these transactions and Eric's cash payment on March 21 in the books of Eric's Bicycle Shop. (Record debits first, then credits. No explanations are required. Round amounts to the nearest whole dollar) March 16. Eric's Bicycle Shop purchases bicycles from Smote Company Journal Entry - Date Accounts Debit Credit March 20: Eric's Bicycle Shop returns bicycles to Smoltz Company. Journal Entry Date Accounts Debit Credit Mar. 20 1 / March 21: Eric's Bicycle Shop paid the balance due. Journal Entry Accounts Debit Credit Date Mar. 21 .. . e tc which makes and colle bicolo Requirement 2. Record what the books of Smolt Company, which makes and solis bicycles, would record. (Record debits first, then credits. No explanations are required. Round amounts to the neares whole dollar) March 14: Smoitz Company sells bicycles to Eric's Bicycle Shop First record the sale on March 14 Journal Entry Accounts Date Debit Credit Now record the cost of the inventory that was sold on March 14. Journal Entry Accounts Date Debit Credit Mar March 20: Eric's Bicycle Shop returns bicycles to Smoltz Company. First record the return on March 20. Journal Entry Date Accounts Debit Mar. 20 Credit Now record the return of the inventory. Now record the return of the inventory. Journal Entry Accounts Date Credit Mar. 20 March 21: Smoltz Company receives the balance due from Eric's Bicycle Shop. Journal Entry Date Accounts Debit Credit Mar. 21