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i More Info Apr. 7 PeeWee's Toys buys $162,800 worth of ConnectABlock toys on account with credit terms of 2/10, n/30. 11 PeeWee's Toys returns
i More Info Apr. 7 PeeWee's Toys buys $162,800 worth of ConnectABlock toys on account with credit terms of 2/10, n/30. 11 PeeWee's Toys returns $16,200 of the merchandise to ConnectABlock due to damage during shipment. 15 PeeWee's Toys paid the amount due, less the return and discount. Print Done Consider the following transactions for PeeWee's 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 PeeWee's 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.) Apr. 7: PeeWee's Toys buys $162,800 worth of ConnectABlock toys on account with credit terms of 2/10, n/30. Date Accounts Debit Credit Apr. 7 Apr. 11: PeeWee's Toys returns $16,200 of the merchandise to ConnectABlock due to damage during shipment. Date Accounts Debit Credit Apr. 11 Apr. 15: PeeWee's Toys paid the amount due, less the return and discount. Date Accounts Debit | Credit Apr. 15 Requirement 2. In the final analysis, how much did the inventory cost PeeWee's Toys? The inventory cost for PeeWee's Toys is $
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