Late in December, the next generation of multiuse $($MU II$)$ watches is released. In addition to all of the features

July $17$ Purchased $50$ watches for $$7,500($ $$150$ per watch$)$ on account.

July $31$ Sold $40$ watches for $$20,000$ cash.

August $12$ Purchased $40$ watches for $$6,400($ $$160$ per watch$)$ cash.

August $22$ Sold $30$ watches for $$15,000$ on account.

September $19$ Paid for watches purchased on July $17.$

September $27$ Receive cash of $$9,000$ for watches sold on account on August $22.$

October $27$ Purchased $80$ watches for $$13,600($ $$170$ per watch$)$ cash.

November $20$ Sold $90$ watches for $$45,000$ cash.

December $4$ Purchased $100$ watches for $$18,000($ $$180$ per watch$)$ on account.

December $8$ Sold $40$ watches for $$20,000$ on account.

Late in December, the next generation of multiuse $($MU II$)$ watches is released. In addition to all of the features of the MU II watches are equipped with a global positioning system $($GPS$)$ and have the ability to download and play songs Internet. The demand for the original MU watches is greatly reduced. As of December $31,$ the estimated net realizabl watches is only $$100$ per watch.

Requirement

General

Journal

General

Trial Balance

Income

Balance Sheet

Now that operations for outdoor clinics and TEAM events are running smoothly, Suzie thinks of another ar She notices that a few clinic participants wear multiuse $($MU$)$ watches. Beyond the normal timekeeping fea watches are able to report temperature, altitude, and barometric pressure. MU watches are waterproof, so rain, fishing, or even diving up to $100$ feet won't damage them. Suzie decides to have MU watches availabl clinic. The following transactions relate to purchases and sales of watches during the second half of $2025.$ $$500$ each.

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