2WP6-1 (Algo) Great Adventures Continuing Case (GL) The foliowing 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 avallable for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2025 . All watches are sold for $860 each. July 17 Purchased 104 watches for $15,600 (\$150 per watch) on account. July 31 Sold 76 watches for $65,360 cash. August 12 Purchased 76 watches for $12,160 ( $160 per watch) cash. August 22 Sold 66 watches for $56,760 on account. September 19 Paid for watches purchased on Juty 17. Septenber 27 Receive cash of $34,056 for watches sold on account on August 22. October 27 Purchased 170 watches for $27,548 (\$162 per watch) cash. November 20 Sold 146 watches for $125,56e cash. Decenber 4 Purchased 136 watches for $23,392 (\$172 per watch) on account. Deceaber 8 Sold 76 watches for $65,360 on account. Late in December, the next generation of multiuse (MU II) watches is released. In addition to all of the features of the M MU II watches are equipped with a global positioning system (GPS) and have the ability to download and play songs an Internet. The demand for the original MU watches is greatly reduced. As of December 31 , the estimated net realizable watches is only $100 per watch. Journal entry worksheet Purchased 76 watches for $12,160 ( $160 per watch) cash. Record the purchase of inventory for cash. Note: Enter debits before credits. Sold 66 watches for $56,760 on account. Record the sale. Note: Enter debits before credits. he unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. GREAT ADVENTURES, INCORPORATED Balance Sheet December 31,2025 Paid for watches purchased on July 17. Record the payment of cash. Note: Enter debits before credits