On July $15,2024,$ the Niche Car Company purchased $2,600$ tires from the Treadwell Company for $$35$ each. The terms of the sale were $\frac{2}{10},\frac{n}{30}.$ Niche uses a perpetual inventory system and the net method of accounting for purchase discounts.

Exercise $8-10($Algo$)$ Part $3$

$3.$ If Niche instead uses a periodic inventory system, explain any changes to the journal entries created in Parts $1$ and $2.$

The July $15$ entry would include a debit to the

account instead of to