Consider the following transactions for Wonderland Toys: View the transactions. Requirements 1. Journalize the purchase transactions. Explanations are not required. 2. In the final analysis, how much did the inventory cost Wonderland Toys? This question: 5 point(s) possible 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.) Mar. 7: Wonderland Toys purchased $120,800 worth of MegoBlock toys on account with credit terms of 2/10, n/60. Date Mar. 7 Accounts Debit Credit Mar. 12: Wonderland Toys returned $12,000 of the merchandise to MegoBlock due to damage during shipment. Date Mar. 12 Accounts Debit Mar. 16: Wonderland Toys paid the amount due, less the return and discount. Date Mar. 16 Accounts Credit Debit Credit Requirement 2. In the final analysis, how much did the inventory cost Wonderland Toys? Total inventory cost = Search Transactions Mar. 7 Wonderland Toys purchased $120,800 worth of MegoBlock toys on account with credit terms of 2/10, n/60. Mar. 12 Mar. 16 Wonderland Toys returned $12,000 of the merchandise to MegoBlock due to damage during shipment. Wonderland Toys paid the amount due, less the return and discount. Print Done < -X 12:56 AM 5/3/2024