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Suppose Trains and Toys uses the perpetual inventory system and buys $120.000 of Pegaelock toys on credit terms of 2/10,n/30. Some of the goods are

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Suppose Trains and Toys uses the perpetual inventory system and buys $120.000 of Pegaelock toys on credit terms of 2/10,n/30. Some of the goods are damaged In shipment, so Trains and Toys retums $17,000 of the merchandise to PegaBlock. Journalize the following transactions on the books of Trains and Toys. Explanations are not required a. Purchase of the goods on July 8, 2023. b. Return of the damaged goods on July 12,2023 c. Payment an July 15, 2023. d. In the end, how much did the irventary cost Trains and Toys? Journalize the following transactions on the books of Trains and Toys. Explanations are not required. a. Purchase of the goods on July 8, 2023. (Record debits first, then credits. Exclude explanations from journal entries.)

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