Exercise 7.7 (Algo) Computing a series of trade discounts. LO 7-2 Main Street Distributors, a wholesale firm, made sales using the following list prices and trade discounts. Required: What amount should be recorded for each sale? 1. List price of $4,200 and trade discounts of 30 percent and 20 percent. 2. List price of $4,900 and trade discounts of 30 percent and 20 percent. 3. List price of $3,250 and trade discounts of 20 percent and 10 percent. Amount to be recorded 1