Consider the following transactions for Elfland Toys: (i) (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.) Jul. 6: Elfland Toys purchased $185,800 worth of ConnectABlock toys on account with credit terms of 2/10,n/30. More info Consider the following transactions for Elfland Toys: (1) (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? Jul. 13: Elfland Toys returned $18,500 of the merchandise to ConnectABlock due to damage during shipment. Jul. 15: Elfland Toys paid the amount due, less the return and discount. 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 2. In the final analysis, how much did the inventory cost Elfland Toys? The inventory cost for Elfland Toys is