Now that operations for outdoor clinics and TEAM events are running smoothly, Suzie thinks of another area for business expansion. She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure. MU watches are waterproof, so moisture from Kayaking, rain, fishing, or even diving up to 100 feet won't damage them. Suzie decides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2022. All watches are sold for $720 each. Jul. 17 Purchased 83 watches for $12,450 (S150 per watch) on account Jul 31 Sold 82 watches for $59,040 cash. Aug 12 Purchased 62 watches for $9.920 ($160 per watch) cash. Aug 22 Sold 52 watches for $37,440 on account. Sep. 19 Paid for watches purchased on July 17. Sep. 27 Receive cash of $22,464 for watches sold on account on August 22 Oct. 27 Purchased 135 watches for $22.950 ($170 per watch) cash Nov. 20 Sold 112 watches for $80,640 cash. 4 Purchased 122 watches for $21,960 ($180 per watch) on account. Dec. 8 Sold 62 watches for $44.640 on account The demand for the original MU watches is greatly reduced. As of December 31, the estimated net realizable value of MU watches is only $100 per watch 1 Aug 22-Sold 52 watches for $37.440 on account Record the cost of the sale, Dec 2 Nov 2-Sold 112 watches for $80,640 cash Record the cost of inventory sold 3. Dec 08-Sold 62 watches for $44.640 on account. Record the cost of inventory sold 4. Dec 31-Record the write-down of inventory to net realable value