Planet Corporation acquired 90 percent of Saturn Company's voting shares of stock in 20X1. During 20X4, Planet purchased 40,000 Playday doghouses for $24 each and sold 25,000 of them to Saturn for $30 each. Saturn sold all of the doghouses to retail establishments prior to December 31,204, for $45 each. Both companies use perpetual inventory systems. Required: a. Prepare the journal entries Planet recorded for the purchase of inventory and resale to Saturn Company in 204. Note: if no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Planet Corporation acquired 90 percent of Saturn Company's voting shares of stock in 20X1. During 20X4, Planet purchased 40,000 Playday doghouses for $24 each and sold 25,000 of them to Saturn for $30 each. Saturn sold all of the doghouses to retail establishments prior to December 31,204, for $45 each. Both companies use perpetual inventory systems. Required: a. Prepare the journal entries Planet recorded for the purchase of inventory and resale to Saturn Company in 204. Note: if no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet