5. value 2.00 points Tracy Company, a manufacturer of air conditioners, sold 200 units to Thomas Company on November 17, 2016. The units have a list price of $350 each, but Thomas was given a 30% trade discount. The terms of the sale were 2/10, n/30. Thomas uses a periodic inventory system. Required: 1. Prepare the journal entries to record the purchase by Thomas on November 17 and payment on November 26, 2016, using the gross method of accounting for purchase discounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list journal entry worksheet Date General Journal Debit Credit November 17, 2016 Purchases 49,000 Accounts payable 49,000 November 26, 2016 Accounts payable Purchase discounts Cash