Help Required information Tracy Company, a manufacturer of air conditioners, sold 100 units to Thomas Company on November 17, 2018. The units have a list price of $750 each, but Thomas was given a 20 % trade discount. The terms of the sale were 3/10, n/30. Required: 1. Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on November 26, 2018, assuming that the gross method of accounting for cash discounts is used. 2. Prepare the journal entries to record the sale on November 17 (gnore cost of goods) and collection on December 15, 2018, assuming that the gross method of accounting for cash discounts is used Complete this question by entering your answ ers in the tabs below. Reg 1 Req 2 Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on November 26, 2018, assuming that the gross method of accounting for cash discounts is used. (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 the sale of 100 units with a list price of $750, a 20% trade discount (if applicable), with terms of 3/10, n/30 under the gross method. ! Required information Tracy Company, a manufacturer of air conditioners, sold 100 units to Thomas Company on November 17, 2018. The units have a list price of $750 each, but Thomas was given a 20% trade discount. The terms of the sale were 3/10, n/30 Required: 1. Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on November 26, 2018, assuming that the gross method of accounting for cash discounts is used. 2. Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on December 15, 2018, assuming that the gross method of accounting for cash discounts is used. Complete this question by entering your answers in the tabs below. Req 1 Req 2 Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on December 15, 2018, assuming that the gross method of accounting for cash discounts is used. (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 2 Record the sale of 100 units with a list price of $750, a 20 % trade discount (if applicable), with terms of 3/10, n/30 under the gross method. 15 of 19
