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Comfort Company purchased $180$ units of inventory on November $17,2024.$ The units have a list price of $$500$ each, but Comfort was given a $25\%$ trade discount. The terms of the sale were $\frac{2}{10},\frac{n}{30}.$ 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 $15,2024.$

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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.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet