Problem Two: JC Bikes has the following transactions during May.

Analyze and record the transactions of JC Bikes, assuming the company uses a perpetual inventory system.

May $2$ Purchases bikes on account from Bikers R Us Wholesale for $$3,300,$ terms $\frac{1}{10},\frac{n}{30}.$

$\backslash$table$[[$A$,$L$,$SE$,$R$,$E$,$NI$,$CF$,$Account,DR$,$CR$,],[,,,,,,,,,,]]$

May $3$ Pays cash for freight costs of $$200$ on bikes purchased from BRU.

May $5$ Returns bikes with a cost of $$400$ to BRU, because part chere order is incorrect.

$\backslash$table$[[$A$,L,$SE$,R,E,$NI$,$CF$,$Account,DR$,$CR$,],[,,,,,,,,,,]]$

May $10$ Pays the full amount due to BRU.

$\backslash$table$[[$A$,$L$,$SE$,$R$,$E$,$NI$,$CF$,$Account,DR$,$CR$,,],[,,,,,,,,,,,],[,,,,,,,,,,,]]$

May $30$ Sells all Bikes purchased on May $2($less those returned on May $5)$ for $$4,000$ on account.

$\backslash$table$[[$A$,$L$,$SE$,$R$,$E$,$NI$,$CF$,$Account,DR$,$CR$,],[,,,,,,,,,,],[,,,,,,,,,,]]$

Assume that payment to BRU is made on May $24$ instead of May $10.$ Record this payment.

$\backslash$table$[[A,$L$,$SE$,$R$,$E$,$NI$,$CF$,$Account,DR$,$CR$,],[,,0,,,,,,,,]]$

$2$