Consider the following transactions for Galaxy Packing Supplies: i (Click the icon to view the transactions.) Requirements 1. 2. Journalize the purchase transactions assuming Galaxy Packing Supplies uses the periodic inventory system. Explanations are not required. What is the amount of net purchases? Requirement 1. Journalize the purchase transactions assuming Galaxy Packing Supplies uses the periodic inventory system. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Apr. 10: Galaxy Packing Supplies buys $162,000 worth of merchandise inventory on account with credit terms of 2/10, n/30, from Wider. Date Apr. 10 Accounts Debit Credit Apr. 12: Galaxy returns $15,500 of the merchandise to Wider due to damage during shipment. Date Apr. 12 Accounts Apr. 19: Galaxy paid the amount due, less the return and discount, to Wider. Date Apr. 19 Accounts Requirement 2. What is the amount of net purchases? The amount of net purchases is Debit Credit Debit Credit More info - X Apr. 10 Galaxy Packing Supplies buys $162,000 worth of merchandise inventory on account with credit terms of 2/10, n/30 from Wider. Apr. 12 Galaxy returns $15,500 of the merchandise to Wider due to damage during shipment. Apr. 19 Galaxy paid the amount due, less the return and discount, to Wider. Print Done