Comfort Company purchased $150$ units of inventory on November $17,2024.$ The units have a list price of $$460$ each, but

Comfort was given a $20\%$ trade discount. The terms of the sale were $\frac{3}{10},\frac{n}{30}.$ Comfort uses a perpetual inventory

system.

Prepare the journal entries to record the $($a$)$ purchase by Comfort on November $17$ and payment on November $26,2024,$ and $($b$)$

December $15,2024$ using the net method of accounting for purchase discounts.

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

Req $3A$

Prepare the journal entries to record the $($a$)$ purchase by Comfort on November $17$ and $($b$)$ payment on November $26,2024.$ Comfort

uses the net 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.

Journal entry worksheet

Record the purchase of inventory.

Note: Enter debits before credits.

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Comfort Company purchased $150$ units of inventory on November $17,2024.$ The units have a list price of $$460$ each, but

Comfort was given a $20\%$ trade discount. The terms of the sale were $\frac{3}{10},\frac{n}{30}.$ Comfort uses a perpetual inventory

system.

Prepare the journal entries to record the $($a$)$ purchase by Comfort on November $17$ and payment on November $26,2024,$ and $($b$)$

December $15,2024$ using the net method of accounting for purchase discounts.

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

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

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

Journal entry worksheet

Note: Enter debits before credits.