Consider the following transactions for Lil Squirt 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 Lil Squirt 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. 7: Lil Squirt Toys purchased $120,800 worth of PegaBlock toys on account with credit terms of 2/10, n/30. Datel Jul. 7 Accounts Debit Credit Consider the following transactions for Lil Squirt 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 Lil Squirt 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. 7: Lil Squirt Toys purchased $120,800 worth of PegaBlock toys on account with credit terms of 2/10, n/30. More info Jul. 7 Jul. 11 Jul. 14 Lil Squirt Toys purchased $120,800 worth of PegaBlock toys on account with credit terms of 2/10, n/30. Lil Squirt Toys returned $12,000 of the merchandise to PegaBlock due to damage during shipment. Lil Squirt Toys paid the amount due, less the return and discount. - X Consider the following transactions for Lil Squirt 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 Lil Squirt Toys? Credit Jul. 11: Lil Squirt Toys returned $12,000 of the merchandise to PegaBlock due to damage during shipment. Date Jul. 11 Jul Accounts Debit 13 Consider the following transactions for Lil Squirt 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 Lil Squirt Toys? Jul. 14: Lil Squirt Toys paid the amount due, less the return and discount. Date Jul. 14 Accounts Debit Credit Requirement 2. In the final analysis, how much did the inventory cost Lil Squirt Toys? The inventory cost for Lil Squirt Toys is