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 23,2021. 2. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment on August 15,2021. Complete this question by entering your answers in the tabs below. "No journal entry required" in the first account field.)