Consider the following transactions for Elfland Toys: (Click the icon to view the transactions.) Requirements 1. Journalize the purchase transactions. Explanations are not required. 2. In the final analysis, how much did the inventory cost Elfland Toys? Mar. 13: Elfland Toys returned $15,600 of the merchandise to ConnectABlock due to dama Mar. 14: Elfland Toys paid the amount due, less the return and discount. Requirement 2. In the final analysis, how much did the inventory cost Elfland Toys? The inventory cost for Elfland Toys is Consider the following transactions for Elfland Toys: (Click the icon to view the transactions.) Requirements 1. Journalize the purchase transactions. Explanations are not required. 2. In the final analysis, how much did the inventory cost Elfland Toys? Requirement 1. Journalize the purchase transactions. Explanations are not required. (Assume the company uses a perpetual inventory system. Record debits first, then credits. Exclude explanations from journal entries.) Mar. 6: Elfland Toys purchased $156,800 worth of ConnectABlock toys on account with credit terms of 2/10,n/30. More info \begin{tabular}{|ll} \hline Mar. 6 & ElflandToyspurchased$156,800worthofConnectABlocktoysonaccountwithcredittermsof2/10,n/30. \\ Mar. 13 & ElflandToysreturned$15,600ofthemerchandisetoConnectABlockduetodamageduringshipment. \\ Mar. 14 & Elfland Toys paid the amount due, less the return and discount. \\ \hline \end{tabular}