Exercise 8-9 Purchase discounts; the gross method (LO8-3) On July 15, 2018, the Nixon Car Company purchased 3,000 tires from the Harwell Company for $30 each. The terms of the sale were 2/10, n/30. Nixon uses a periodic inventory system and the gross method of accounting for purchase discounts Required: 1. Prepare the journal entries to record the purchase on July 15 and payment on July 23, 2018. 2. Prepare the journal entry to record the payment on August 15, 2018. 3. If Nixon instead uses a perpetual inventory system, explain any changes to the journal entries created in requirements'1 and 2. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the journal entries to record the purchase on July 15 and payment 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 1 > 2 Record purchase of tires. Note: Enter debits before credits Required 1 Required 2 Required 3 Prepare the journal entry to record the payment on August 15, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list 32 Journal entry worksheet K 1 Record payment of July 15 purchase. Note: Enter debits betre credits. Date General Journal Debit Credit ces August 15, 2018 Record entry Clear entry View general journal Required 1 Required 3 Exercise 8-9 Purchase discounts; the gross method [LO8-3) On July 15, 2018, the Nixon Car Company purchased 3,000 tires from the Harwell Company for $30 each. The terms of the sale were 2/10, n/30. Nixon uses a periodic inventory system and the gross method of accounting for purchase discounts. Required: 1. Prepare the journal entries to record the purchase on July 15 and payment on July 23, 2018. 2. Prepare the journal entry to record the payment on August 15, 2018. 3. If Nixon instead uses a perpetual inventory system, explain any changes to the journal entries created in requirements 1 and 2 Complete this question by entering your answers in the tabs below Required 2 Required 3 Required 1 If Nixon instead uses a perpetual inventory system, explain any changes to the journal entries created in requirements 1 and 2. and the July 23 account instead of to The July 15 entry would include a debit to the account instead of to entry would include a credit to the Rquired 3 Required 2