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Now that operations for outdoor clinics and TEAM events are running smoothly. Suzle thinks of another area for business expansion. She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekeeping 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. Suzle decides to have MU watches available for sale at the start of eac clinic. The following transactions relate to purchases and sales of watches during the second half of 2022 . All watches are sold for $760 each. Ju1. 17 Purchased 89 watches for $13,350 ( $150 per watch) on account. Ju1. 31 sold 86 watches for $65,360 yash. Aug. 12 Purchased 66 watches for $10,560 ( $160 per watch) cash. Aug. 22 sold 56 watches for $42,560 on account, Sep. 19 Paid for watches purchased on July 17. Sep. 27 Receive cash of $25,536 for watches sold on account on August 22 . Oct. 27 Purchased 145 watches for $24,658 ( $170 per watch) cash. Nov, 20 sold 116 watches for $88,160 cash. Dec. 4 Purchased 126 watches for $22,680 ( $180 per watch) on account. Dec. 8 Sold 66 watches for $59,160 on account. Late in December, the next generation of multiuse (MU II) watches is released. In addition to all of the features of the MU watch, the MU II watches are equipped with a globol positioning system (GPS) and have the ability to downioad and play songs and videos off the Internet. The demand for the original MU watches is greatly reduced. As of December 31 , the estimated net realizable value of MU watches is only $100 per watch. Journal entry worksheet Purchased 89 watches for $13,350 ( $150 per watch) on account. Record the purchase of inventory on account. Note: Enter debits before credits. Journal entry worksheet Sold 86 watches for $65,360 cash. Record the sale of inventory for cash. Note: Enter debits before credits. Journal entry worksheet Sold 86 watches for $65,360 cash. Record the cost of inventory sold. Note: Enter debits before credits. Purchased 66 watches for $10,560 ( $160 per watch) cash. Record the purchase of inventory for cash. Note: Enter debits before credits. Journal entry worksheet Sold 56 watches for $42,560 on account. Record the sale. Note: Enter debits before credits. Journal entry worksheet Sold 56 watches for $42,560 on account. Record the cost of the sale. Note: Enter debits before credits. Journal entry worksheet

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