complete both required parts
Exercise 7-6 (Algo) Cash discounts; the gross method (L07-3] Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,300 tires to the Nixon Car Company for $70 each. The terms of the sale were 2/20, 1/30. Harwell uses the gross method of accounting for cash discounts. Required: 1. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and collection on July 23, 2021. 2. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and collection on August 15, 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and collection on July 23, 2021. (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 Record the sale of 1,300 tires for $70 each with a term of 2/20, n/30 under the gross method of accounting for cash discounts. Note: Enter debits before credits 2. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and collection on August 15, 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and collection on July 23, 2021. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list rences 1 Record the sale of 1,300 tires for $70 each with a term of 2/20, 1/30 under the gross method of accounting for cash discounts under 2 Record the cash collection on July 23. Credit Note i nurnal entry has been entered Check m Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entries to record the sale on July 15 (ignore cost of goods and collection on August 15, 2021. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list 1 Record the sale of 1,300 tires for $70 each with a term of 2/20, n/30 under the gross method of accounting for cash discounts. under 2 Record the cash collection on August 15. Credit