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Comfort Company purchased $240$ units of inventory on November $17,2024.$ The units have a list price of $$350$ each, but Comfort was given a $40\%$ trade discount. The terms of the sale were $210/$

$,$ n$30/$

$.$ Comfort uses a perpetual inventory system.

Required:

Prepare the journal entries to record the $($a$)$ purchase by Comfort on November $17$ and $($b$)$ payment on November $26,2024.$ Comfort uses the gross method of accounting for purchase discounts.

Prepare the journal entry for the payment, assuming instead that it was made on December $15,2024.$