[The following information applies to the questions displayed below.) 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 multluse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, ond 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 $880 each Jul. 17 Purchased 107 watches for $16.050 ($150 per watch) on account. Jul. 31 Sold 98 watches for 586,240 cash aug. 12 Purchased 78 watches for $12, 480 (5160 pox watch) cash Aug. 22 Sold 68 watches for $59.840 on account. Sep. 19 Paid for watches purchased on July 17. Sep. 27 Receive cash of $35.904 for watches sold on account on August 22. Oct. 27 Purchased 175 watches for $29,750 ($170 per watch) canh Nov. 20 Sold 128 watches for $112,640 can. Doo. . 4 Purchased 138 watches for $24,840 ($180 per watch) on account. Dec. 8 sold 78 watches for $68,640 on account. Lote 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 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 General Journal General Ledger Trial Balance Income Statement Balance Sheet Debit Credit No Date General Journal 16,050 1 Jul 17 Inventory Accounts Payable 16,050 86,240 2 Jul 31 Cash Sales Revenue 86,240 86,240 Jul 31 Cost of Goods Sold Inventory 86,240 % Aug 12 12,480 Inventory Cash 12,480 5 Aug 22 59,840 Accounts Receivable Sales Revenue 59,840 6 Aug 22 11.180 Cost of Goods Sold Inventory 10.880 16,050 7 Sep 19 Accounts Payable Cash 16,050 35,904 8 Sep 27 Cash Accounts Receivable 35,904 29,750 9 Oct 27 Inventory Cash 29,750 10 Nov 20 Cash 112,640 Sales Revenue 112,640 11 Nov 20 21,760 Cost of Goods Sold Inventory O 21,760 12 Dec 04 24,840 Inventory Accounts Payable >> 24,840 13 Dec 08 68,640 Accounts Receivable Sales Revenue >> 68,640 14 Dec 08 68,640 Cost of Goods Sold Inventory >> 68,640 15 Dec 31 Cost of Goods Sold Inventory O 16 Dec 31 Sales Revenue Service Revenue Interest Revenue Sales Discounts Retained Earnings 17 Dec 31 Retained Earnings Cost of Goods Sold Supplies Expense Bad Debt Expense Rent Expense Insurance Expense Salaries Expense