$3$

Part $1$ of $2$

$0\mathrm{.}9$

points

$q,$

References

Required information

$[$The following information applies to the questions displayed below.$]$

Comfort Company purchased $200$ units of inventory on November $17,2024.$ The units have a list price of $$350$ each, but Comfort was given a $30\%$ trade discount. The terms of the sale were $\frac{2}{10},\frac{n}{30}.$ Comfort uses a perpetual inventory system.

Required:

Prepare the journal entries to record the $($a$)$ purchase by Comfort on November $17$ and $($b$)$ payment on November $26,2024.$ Comfort uses the gross method of accounting for purchase discounts.

Prepare the journal entry for the payment, assuming instead that it was made on December $15,2024.$

Complete this question by entering your answers in the tabs below.

Prepare the journal entries to record the $($a$)$ purchase by Comfort on November $17$ and $($b$)$ payment on November $26,2024.$ Comfort uses the gross method of accounting for purchase discounts.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.