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Consider the following transactions for Gamel Packing Supplies: (Click the icon to view the transactions.) Requirements 1. Journalize the purchase transactions assuming Gamel Packing Supplies uses the periodic inventory system. Explanations are not required. 2. What is the amount of net purchases? Requirement 1. Journalize the purchase transactions assuming Gamel Packing Supplies uses the periodic inventory system. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Apr. 10: Gamel Packing Supplies buys $170,000 worth of merchandise inventory on account with credit terms of 1/10, n/30. Date Accounts Debit Credit Apr. 10 Apr. 12: Gamel returns $12,000 of the merchandise to the vendor due to damage during shipment. Date Accounts Debit Credit Apr. 12 Apr. 19: Gamel paid the amount due, less the return and discount. Date Accounts Debit Credit Apr. 19 Requirement 2. What is the amount of net purchases? The amount of net purchases is $ i Data Table Apr. 10 Gamel Packing Supplies buys $170,000 worth of merchandise inventory on account with credit terms of 1/10, n/30. 12 Gamel returns $12,000 of the merchandise to the vendor due to damage during shipment. 19 Gamel paid the amount due, less the return and discount. Print Done