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Harwell Company manufactures automobile tires. On July 15,2024 , the company sold 1,200 tires to the Nixon Car Company for $70 each. The terms of
Harwell Company manufactures automobile tires. On July 15,2024 , 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 23,2024 . 2. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment on August 15,2024
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