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! Required Information [The following information applies to the questions displayed below.] On July 15, 2021, the Nixon Car Company purchased 1.000 tires from the
! Required Information [The following information applies to the questions displayed below.] On July 15, 2021, the Nixon Car Company purchased 1.000 tires from the Harwell Company for $50 each. The terms of the sale were 2/10, n/30. Nixon uses a perpetual Inventory system and the gross method of accounting for purchase discounts. Required: 1. Prepare the journal entries to record the purchase on July 15 and payment on July 23, 2021. 2 Prepare the journal entry for the payment, assuming Instead that it was made on August 15, 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entries to record the purchase on July 15 and payment on July 23, 2021. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list x 1 > Record purchase of tires. 2 Record payment of July 15 purchase. Credit
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