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Consider the following transactions for Partytime Toys: (i) (Click the icon to view the transactions.) Requirements 1. Journalize the purchase transactions, Explanations are not required.
Consider the following transactions for Partytime 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 Partytime Toys? Requirement 1. Journalize the purchase transactions. Explanations are not required. (Assume the company uses a perpetual inventory system. Re debits first, then credits. Exclude explanations from journal entries.) Oct. 8: Partytome Toys buys $141,800 worth of MegoBlock toys on account with credit terms of 2/10,n/30. Consider the following transactions for Partytime 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 Partytime Toys? More info Oct. 8 Partytime Toys buys $141,800 worth of MegoBlock toys on account with credit terms of 2/10,n/30. 11 Partytime Toys returns $14,100 of the merchandise to MegoBlock due to damage during shipment. 15 Partytime Toys paid the amount due, less the return and discount
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