Exercise 7-6 Cash discounts; the gross method [LO7-3] Harwell Company manufactures automobile tires. On July 15, 2018, the company sold 1100 tires to the Nixon Car Company for $40 each. The terms of the sale were 3/15, 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, 2018. 2. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and collection on August 15, 2018. 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, 2018. (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 1,100 tires for $40 each with a term of 3/1S, n/30 under the gross method of accounting for cash discounts. Note: Enter debits before credits. Date General Journal Debit Credit July 15, 2018 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, 2018. (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 1,100 tires for $40 each with a term of 3/15, n/30 under the gross method of accounting for cash discounts. Note: Enter debits before credits. Date General Journal Dobit | Credit July 15, 2018 Record entry Clear entry View general journal Required 1Required 2 Prepare the journal entries to record the sale on July 15 (ignore cost of for a transaction/event, select "No journal entry required" in the first account fleld.) View transaction list Journal entry worksheet Record the cash collection on July 23. Note: Enter debits before credits. Date General Journal Debit Credit July 23, 2018 Record entry Clear entry View general journal