Chapter 06 HW i 6 points 1 Saved eBook E6-6 Realized Profit on Intercompany Sale LO 6-3 Planet Corporation acquired 90 percent of Saturn Company's voting shares of stock in 20X1. During 20X4, Planet purchased 59,000 Playday doghouses for $26 each and sold 44,000 of them to Saturn for $32 each. Saturn sold all of the doghouses to retail establishments prior to December 31, 20X4, for $47 each. Both companies use perpetual inventory systems. Required: a. Prepare the journal entries Planet recorded for the purchase of inventory and resale to Saturn Company in 20X4. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) References View transaction list Journal entry worksheet A B C Record the purchase of inventory. Note: Enter debits before credits. Event 1 General Journal Debit Credit Record entry Clear entry View general journal