Pete's Bikes purchased 60 bikes at $80 each with terms of 3/10, n/30 from Speedsters on July 10.  These bikes had a cost of $40 each to Speedsters.  On July 12, Pete's bikes returned 4 bikes.  On July 15, Pete's Bikes paid the balance owed less the return and discount.

a) Prepare all required entries for Pete's Bikes (buyer).

Journal

Date	Description	Debit	Credit
10-Jul
10-Jul
12-Jul
12-Jul
15-Jul
15-Jul
15-Jul

b) Prepare all required entries for Speedsters (seller).

Journal

Date	Description	Debit	Credit
10-Jul
10-Jul
12-Jul
12-Jul
15-Jul
15-Jul
15-Jul