Journal entry worksheet 1 .... 10 Record any necessary adjusting entry for lower of cost and net realizable value. Note: Enter debits before credits. 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 multiuse (MU) watches. Beyond the normal timekeping features of most watches, MU watches are able to report temperature, altitude, and 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 avallable for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2025. All watches are sold for $760 each. July 17 July 31 hugust 12 August 22 septenber Septenter 27 pard for watches purchased on July 17 . September 27 Receive cash of $25,536 for watches sold on diccount on August 22 . Octobor 27 Purchased 145 watches for $24,215 ( $167 per watch) eash. November 20 Sold 126 vatched for $95,760 cash. December 4 Rurchased 126 watches for $22,302 ( $177 per watch) on account. December 8 Sold 66 watches for $50,160 on account