or The following information applies to the questions displayed below) 1428 onts 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 $500 each born Jul. Jul Aug. Aug Sep Sep. Oct. Nov. Dec. Dec. 17 Purchard 50 watches for $7.500 ($150 per watch) on account 31 Sold 40 watches for $20,000 suh 12 Purchased 40 watches for $6.00 $160 perwatch) cu 22 Sold 30 watches for $15.000 on account 19 Paid for watches purchased on July 17. 27 Receive each of $9.000 for watches sold on account on arut 22. 27 Purchased 30 watches for $13.600 $170 perwatch) enth 20 Sold 90 watches for $45.000 cash Purchased 100 watches for $10.000 ($180 per watch on account Sold 40 watches for $20.000 scout References Late in December the next generation of multiuse (MUI) watches is released. In addition to all of the features of the MU watch the MU I watches are equipped with a global positioning system (GPS) and have the ability to download and play songs and videos off the Internet. 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 Requirement Journal General Ledger Til Balance Income Statement Balance Sheet Prepare the journal entries for transactions. If no entry is required for a particular transaction event, select "No Journal Entry Required in the first account field.) Verw transaction list Journal entry worksheet 3 4 5 6 7 8 ... 17 Purchased 50 watches for $7.500 ($150 per watch) on account. Record the purchase of inventory on account Note: Enter debits before credits Date General Journal Jul 17 De ret Record entry Clear entry View general journal