MOT Wonderland Toys buys $107,800 worth of PegaBlock toys on account with credit terms of 2/10, n/60. Wonderland Toys returns $10,700 of the merchandise to PegaBlock due to damage during shipment. Wonderland Toys paid the amount due, less the return and discount. May 12 May 16 consider the following transactions for Wonderland Toys: (Click the icon to view the transactions.) Requirements I 1. Journalize the purchase transactions. Explanations are not required. 2. In the final analysis, how much did the inventory cost Wonderland 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.) May 7: Wonderland Toys buys $107,800 worth of PegaBlock toys on account with credit terms of 2/10, n/60. Date Accounts Debit Credit May 7