Record any necessary adjusting entry on December 31,2025 , related to this information. (If no entry is re select "No Journal Entry Required" In the first account field.) Complete this ques ion by entering your answers in the tabs below. For what amount would MU inventory be reported in the December 31,2025 , balance sheet? Complete this question by entering your answers in the tabs below. Prepare an updated gross profit section of a partial income statement accounting for this additional information 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 2025 . All watches are sold for $506 each. July 17 Purchased 56 watchen for $8,736 ( $156 per watch) on account. July 31 Sold 46 watchen for $23,276 eanh. Augunt 12 Purchaned 46 watchen for $7,636 ( $166 per wateh) eash. August 22 Sold 36 wettehes for $18,216 on account. September 19 paid for watches purchaned on July 17. September 27 Receive eash of $12,600 for watehen sold on account on August 22. 0etober 27 Durchased 86 watehen for $15,136 ( 5176 per watoh) cash. November 20 5old 96 watehes for $48,576 canh. December 4 purchaned 112 watches for $20,832 ( 5186 per wateh) on account. December 8 Sold 46 watches for $23,276 on acoount. RWP6-1 (Algo) Great Adventures Continuing Case Part 2 2. Late in December, the next generation of multiuse (MU II) watches is released. In addition to all of the features of the MU watch, the MU II 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 $106 per watch. Record any necessary adjusting entry on December 31,2025 , related to this information. (If no entry is re select "No Journal Entry Required" In the first account field.) Complete this ques ion by entering your answers in the tabs below. For what amount would MU inventory be reported in the December 31,2025 , balance sheet? Complete this question by entering your answers in the tabs below. Prepare an updated gross profit section of a partial income statement accounting for this additional information 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 2025 . All watches are sold for $506 each. July 17 Purchased 56 watchen for $8,736 ( $156 per watch) on account. July 31 Sold 46 watchen for $23,276 eanh. Augunt 12 Purchaned 46 watchen for $7,636 ( $166 per wateh) eash. August 22 Sold 36 wettehes for $18,216 on account. September 19 paid for watches purchaned on July 17. September 27 Receive eash of $12,600 for watehen sold on account on August 22. 0etober 27 Durchased 86 watehen for $15,136 ( 5176 per watoh) cash. November 20 5old 96 watehes for $48,576 canh. December 4 purchaned 112 watches for $20,832 ( 5186 per wateh) on account. December 8 Sold 46 watches for $23,276 on acoount. RWP6-1 (Algo) Great Adventures Continuing Case Part 2 2. Late in December, the next generation of multiuse (MU II) watches is released. In addition to all of the features of the MU watch, the MU II 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 $106 per watch
