undefined

Consider the following transactions for Partytime Toys: (Click the icon to view the transactions.) Requirements 1. Journalize the purchase transactions. Explanations are not required. 2. In the final analysis, how much did the inventory cost Partytime Toys? Requirement 1. Journalize the purchase transactions. Explanations are not required. (Assume the company uses a perpetual inventory system. Record debits first, then credits. Exclude explanations from journal entries.) Oct. 6: Partytime Toys buys $139,800 worth of PegaBlock toys on account with credit terms of 2/10. n/60. Date Accounts Debit Credit Oct. 6 139,800 Merchandise Inventory Accounts Payable 139800 Oct. 13: Partytime Toys retums $13,900 of the merchandise to PegaBlock due to damage during shipment. Date Accounts Debit Credit Oct. 13 13900 Accounts Payable Merchandise Inventory 13900 Oct. 14: Partytime Toys paid the amount due, less the return and discount Date Accounts Debit Credit Oct. 14 125900 Accounts Payable Cash Merchandise Inventory Requirement 2. In the final analysis, how much did the inventory cost Partytime Toys? The inventory cost for Partytime Toys is