Consider the following transactions for KC 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 KC Toys? perpetual inventory system. Record debits first then credits. Exclude explanations from journal entries.) Requirement 1. Journalize the purchase transactions. Explanations are not required. (Assume the company uses Sept. 8: KC Toys buys $111,300 worth of MegoBlock toys on account with credit terms of 2/10, n/45. Date Accounts Debit Credit Sept. 8 dits. Exclude explanati Sept. 8 KC Toys buys S111,300 worth of MegoBlock toys on account with credit terms of 2/10, n/45. 11 KC Toys returns $11,050 of the merchandise to MegoBlock due to damage during shipment. 15 KC Toys paid the amount due, less the return and discount