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 2/10, n/30. Comfort uses a perpetual inventory system.

3. 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.

a) (is done I need part b)

November 17, 2024 Inventory48,020

Accounts payable48,0202

November 26, 2024 Accounts payable48,020

Cash48,020

b)

December 15, 2024 Account Payable 48020

Purchase discounts ??

Cash ??