Business, 15.07.2019 18:40 jasontbyrer

On october 1, benji's bicycle store had an inventory of 20 ten speed bicycles at a cost of $200 each. during the month of october, the following transactions occurred. oct. 4 purchased 40 bicycles at a cost of $200 each from monroe bicycle company, terms 1/10, n/30. 6 sold 25 bicycles to team wisconsin for $330 each, terms 2/10, n/30. 7 received credit from monroe bicycle company for the return of 2 defective bicycles. 13 issued a credit memo to team wisconsin for the return of a defective bicycle. 14 paid monroe bicycle company in full, less discount. prepare the journal entries to record the transactions assuming the company uses a perpetual inventory system. (credit account titles are automatically indented when the amount is entered. do not indent manually. record journal entries in the order presented in the problem.) date account titles and explanation debit credit (to record credit sale.) (to record cost of good sold.) (to record goods returned.) (to record cost of good returned.)

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On october 1, benji's bicycle store had an inventory of 20 ten speed bicycles at a cost of $200 each...

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