Question: Please do requirements 1 and 2 Consider the following transactions for Wonderland Toys: Click the icon to view the transactions.) Requirements 1. Joumalize the purchase

Please do requirements 1 and 2

purchase transactions. Explanations are not required. 2. In the final analysis, how

Consider the following transactions for Wonderland Toys: Click the icon to view the transactions.) Requirements 1. Joumalize the purchase transactions. Explanations are not required. 2. In the final analysis, how much did the inventory cost Wonderland Toys? DE Requirement 1. Journalize the purchase transactions. Explanations are not required. (Assume the company uses a perpetual inventory system. explanations from Journal entries) Aug. 7: Wonderland Toys purchased $188,800 worth of MegoBlock toys on account with credit terms of 2/10, n/30. Date Accounts Debit Credit Aug. 7 Requirements 1. Journalize the purchase transactions. Explanations are not required. 2. In the final analysis, how much did the inventory cost Wonderland Toys? Aug. 7 Aug. 12 Wonderland Toys purchased $188,800 worth of MegoBlock toys on account with credit terms of 2/10, n/30. Wonderland Toys returned $18,800 of the merchandise to MegoBlock due to damage during shipment. Wonderland Toys paid the amount due, less the return and discount. Aug. 15

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