8 0 M University Of Phoenix x Gradebook x Question 3 - Wk 1 - Practice: Kn x Connect Homework 5 : ACCOUNT C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fvle.phoenix.edu%252Fultra%252Fcourses%252F_2... > (Upda Wk 1 - Practice: Knowledge Check [due Day 5] i Saved Help Save & Exit Submit Check my work 3 Required information Exercise 7-5 (Algo) Trade and cash discounts; the gross method and the net method compared [LO7-3] [The following information applies to the questions displayed below.] Part 2 of 2 Tracy Company, a manufacturer of air conditioners, sold 150 units to Thomas Company on November 17, 2021. The units have a list price of $640 each, but Thomas was given a 25% trade discount. The terms of the sale were 2/10, n/30. 2.85 points Exercise 7-5 (Algo) Part - 2 eBook 3-a. Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on November 26, 2021, Hint assuming that the net method of accounting for cash discounts is used. 3-b. Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on December 15, 2021, References assuming that the net method of accounting for cash discounts is used. Complete this question by entering your answers in the tabs below. Reg 3A Reg 3B Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on November 26, 2021, assuming that the net method of accounting for cash discounts is used. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) MIC 9:05 A 2/19/202 hp