Exercise 7-6 (Algo) Cash discounts; the gross method (L07-3] Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,900 tires to the Nixon Car Company for $35 each. The terms of the sale were 2/20, n/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 x Answer is not complete. 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.) No Date July 15, 2021 General Journal Debit Credit Accounts receivable Sales revenue 81.480X 81,480X July 23, 2021 Cash Accounts receivable 81 480 x 12 Exercise 7-6 (Algo) Cash discounts; the gross method (L07-3) Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,900 tires to the Nixon Car Company for $35 each The terms of the sale were 2/20, n/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. > Answer is not complete. Complete this question by entering your answers in the tabs below. Required: 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.) No 1 Date JUN 15 2021 General Journal Credit Accounts receivable Sales revenue Debit 81,480 81,480 Aug 15, 2021 Cash 84.000 Sales discounts Accounts receivable 2.520 81,480 Exercise 7-7 (Algo) Cash discounts; the net method [LO7-3] Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1.200 tires to the Nixon Car Company for $70 each. The terms of the sale were 3/10, n/30. Harwell uses the net method of accounting for cash discounts Required: 1. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment on July 23, 2021 2. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment 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 payment on July 23, 2021. (If no entry is required for a transaction/event, select "No journal entry required in the first account field) Vww transaction list Journal entry worksheet Record the sale of 1.200 tires for $70 each with a term of 3/10, n/30 under the net method of accounting for cash discounts