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cfrf Required information The following information applies to the questions displayed below! Tracy Company, a manufacturer of alt conditioners, sold 100 units to Thomas Company
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Required information The following information applies to the questions displayed below! Tracy Company, a manufacturer of alt conditioners, sold 100 units to Thomas Company on November 17, 2021. The units have a list price of $750 each, but Thomas was given a 20% trade discount The terms of the sale were 3/10, 1/30 Required: 1. Prepare the journal entries to record the sale on November 17 (ignore cost of goods and collection on November 26, 2021 assuming that the gross method of accounting for cash discounts is used. 2. Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on December 15, 2021 assuming that the gross method of accounting for cash discounts is used Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Prepare the journal entries to record the sale on November 17 lgnore cost of goods) and collection on November 26, 2021, assuming that the gross 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.) View transaction list Journal entry worksheet Step by Step Solution
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