11 Sold 114 watches for $84,360 cash. Record the cost of inventory sold. 12 Purchased 124 watches for $22,320 ( $180 per watch) on account. Record the purchase of inventory on account. 13 Sold 64 watches for $47,360 on account. Record the sale of inventory on account. 14 Sold 64 watches for $47,360 on account. Record the cost of inventory sold. 15 Record the write-down of inventory to net realizable value. Note : O= journal entry has been entered Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select in the first account field.) Journal entry worksheet Purchased 86 watches for $12,900 ( $150 per watch) on account. Record the purchase of inventory on account. Note: Enter debits before credits. Unadjusted \begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ GREAT ADVENTURES, INC. } \\ \hline \multicolumn{1}{|c|}{ Income Statement } \\ \hline For the Period Ended December 31, 2022 \\ \hline Revenues & & \\ \hline & & \\ \hline & & \\ \hline Net Sales & & \\ \hline & & \\ \hline Gross Profit & & \\ \hline Operating Expense: & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total Operating Expenses & & \\ \hline Operating Income (Loss) & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} [The following information applies to the questions displayed below.] Now that operations for outdoor clinics and TEAM events are running smoothly, Suzie thinks of another area for business expansion. She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure. MU watches are waterproof, so moisture from kayaking, rain, fishing, or even diving up to 100 feet won't damage them. Suzie decides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2022. All watches are sold for $740 each. Jul. 17 Purchased 86 watches for $12,900 ( $150 per watch) on account. Ju1. 31 Sold 84 watches for $62,160 cash. Aug. 12 purchased 64 watches for $10,240 ( $160 per watch) cash. hug. 22 sold 54 watches for $39,960 on account. sep. 19 Pald for watches purchased on July 17. Sep. 27 Receive cash of $23,976 for watehes sold on account on August 22 . Oct. 27. Purchased 140 watches for $23,800 ( $170 per watch) cash. Nov. 20 Sold 114 watchen for $84,360 cash. Dec. 4 Purchased 124 watches fr$22,320 ( $180 per watch) on account. Dec. B Sold 64 watohes for $47,360 on account. Late in December, the next generation of multiuse (MU II) watches is released. In addition to all of the features of the MU watch, the MU II watches are equipped with a global positioning system (GPS) and have the ability to download and play songs and videos off the internet. The demand for the original MU watches is greatly reduced. As of December 31 , the estimated net realizable value of MU watehes is only $100 per watch. Prepare a classified balance sheet as of December 31,2022 . Choose the appropriate accounts to complete the company's balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. 6 Sold 54 watches for $39,960 on account. Record the cost of the sale. 7 Paid for watches purchased on July 17. Record the payment of cash. 8 Receive cash of $23,976 for watches sold on account on August 22. Record the receipt of cash for the sale. 9 Purchased 140 watches for $23,800 ( $170 per watch) cash. Record the purchase of inventory for cash. 10 Sold 114 watches for $84,360 cash. Record the sale of inventory for cash. Note: = journal entry has been entered Purchased 86 watches for $12,900 ( $150 per watch) on account. Record the purchase of inventory on account. 2 Sold 84 watches for $62,160 cash. Record the sale of inventory for cash. 3 Sold 84 watches for $62,160 cash. Record the cost of inventory sold. 4 Purchased 64 watches for $10,240 ( $160 per watch) cash. Record the purchase of inventory for cash. 5 Sold 54 watches for $39,960 on account. Record the sale. 6 Sold 54 watches for $39,960 on account. Record the cost Prepare a classified balance sheet as of December 31, 2022. Choose the appropriate accounts to complete the company's balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection