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Harwell Company manufactures automobile tires. On July 15, 2024, the company sold 2,100 tires to the Nixon Car Company for $90 each. The terms of
Harwell Company manufactures automobile tires. On July 15, 2024, the company sold 2,100 tires to the Nixon Car Company for $90 each. The terms of the sale were 310/310 , n3030 . Harwell uses the net method of accounting for cash discounts.
Required:
- Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment on July 23, 2024.
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