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Great Adventures Problem AP6-1 (GL) The following information applies to the questions displayed below.) 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 multluse (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. Suzie decides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2022. All watches are sold for $740 each. Jul. 17 Purchased 86 watches for $12,900 ($150 per watch) on account. Jul. 31 Sold 84 watches for $62,160 cash. Aug. 12 Purchased 64 watches for $10,240 ($160 per watch) cash. Aug. 22 Sold 54 watches for $39,960 on account. Sep. 19 Paid for watches purchased on July 17. Sep. 27 Receive cash of $23,976 for watches sold on account on August 22. Oct. 27 Purchased 148 watches for $23,880 ($170 per watch) cash Nov. 20 Sold 114 watches for $84,360 cash. Dec 4 Purchased 124 watches for $22,328 ($180 per watch) on account. Dec. 8 Sold 64 watches for $47, 360 on account. Late in December, the next generation of multluse (MU II) watches is released. In addition to all of the features of the MU watch the MU I watches are equipped with a global positioning system (GPS) and have the ability to download 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: ded Great Adventure Acclg Cycle Chapter #6 i View transaction list Journal entry worksheet

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