Choose the appropriate accounts to complete the company's income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. repare a classified balance sheet as of December 31,2025 . Choose the appropriate accounts to complete the company's balance sheet. he unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. 7 Paid for watches purchased on July 17 . Record the payment of cash. 8 Receive cash of $22,464 for watches sold on account on August 22. Record the receipt of cash for the sale. 9 Purchased 135 watches for $22,815 ( $169 per watch) cash. Record the purchase of inventory for cash. 10 Sold 122 watches for $87,840 cash. Record the sale of inventory for cash. 11 Sold 122 watches for $87,840 cash. Record the cost of inventory sold. 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 2025. All watches are sold for $720 each. July 17 Purchased 83 watches for $12,450 ( $150 per watch) on account. July 31 Sold 64 watches for $46,080 cash. August 12 Purchased 66 watches for $10,560 ( $160 per watch) cash. August 22 Sold 52 watches for $37,440 on account. September 19 Paid for watches purchased on July 17. September 27 Receive cash of $22,464 for watches sold on account on August 22 . October 27 Purchased 135 watches for $22,815 ( $169 per watch) cash. November 20 Sold 122 watches for $87,840 cash. December 4 Purchased 122 watches for $21,838 ( $179 per watch) on account. December 8 Sold 62 watches for $44,640 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 watches is only $100 per watch. 12 Purchased 122 watches for $21,838 ( $179 per watch) on account. Record the purchase of inventory on account. 13 Sold 62 watches for $44,640 on account. Record the sale of inventory on account. 14 Sold 62 watches for $44,640 on account. Record the cost of inventory sold. 15 Record any necessary adjusting entry for lower of cost and net realizable value. 16 Record the closing entry for revenue accounts. 17 Record the closing entry for expense accounts. 1 Purchased 83 watches for $12,450 ( $150 per watch) on account. Record the purchase of inventory on account. 2 Sold 64 watches for $46,080 cash. Record the sale of inventory for cash. 3 Sold 64 watches for $46,080 cash. Record the cost of inventory sold. 4 Purchased 66 watches for $10,560 ( $160 per watch) cash. Record the purchase of inventory for cash. 5 Sold 52 watches for $37,440 on account. Record the sale. 6 Sold 52 watches for $37,440 on account. Record the cost of the sale