Required information [The following information applies to the questions displayed below.] Parker Inc. has the following cash balances: First Bank: Second Bank: Third Bank: Fourth Bank: $250,000 (26,000) 35,000 (13,000) Required: 1. Prepare the current assets and current liabilities section of Parker's 2021 balance sheet, assuming Parker reports under U.S. GAAP. (If there is no effect select "None" from the dropdown.) Parker's 2021 Balance Sheet (Partial) Current Assets: Current Liabilities: Required information [The following information applies to the questions displayed below.] Parker Inc. has the following cash balances: First Bank: Second Bank: Third Bank: Fourth Bank: $250,000 (26,000) 35,000 (13,000) 2. Prepare the current assets and current liabilities section of Parker's 2021 balance sheet, assuming Parker reports under IFRS. (If there is no effect select "None" from the dropdown.) Parker's 2021 Balance Sheet (Partial) Current Assets: Current Liabilities: Tracy Company, a manufacturer of air conditioners, sold 100 units to Thomas Company on November 17, 2021. The units have a list price of $760 each, but Thomas was given a 25% trade discount. The terms of the sale were 2/10, n/30. Required: 1. Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on November 26, 2021, assuming that the gross method of accounting for cash discounts is used. 2. Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on December 15, 2021, assuming that the gross method of accounting for cash discounts is used. Complete this question by entering your answers in the tabs below. Req 1 Req 21 ces Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on December 15, 2021, assuming that the gross method of accounting for cash discounts is used. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 2 Record the sale of 100 units with a list price of $760, a 25% trade discount (if applicable), with terms of 2/10, n/30 under the gross method. Tracy Company, a manufacturer of air conditioners, sold 100 units to Thomas Company on November 17, 2021. The units have a list price of $760 each, but Thomas was given a 25% trade discount. The terms of the sale were 2/10, n/30. Required: 1. Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on November 26, 2021, assuming that the gross method of accounting for cash discounts is used. 2. Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on December 15, 2021, assuming that the gross method of accounting for cash discounts is used. Complete this question by entering your answers in the tabs below. Req 1 Req 2 Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on December 15, 2021, assuming that the gross method of accounting for cash discounts is used. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the cash collection on December 15. Required information [The following information applies to the questions displayed below] Tracy Company, a manufacturer of air conditioners, sold 100 units to Thomas Company on November 17, 2021. The units have a list price of $760 each, but Thomas was given a 25% trade discount. The terms of the sale were 2/10, n/30. 3-a. Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on November 26, 2021, assuming that the net method of accounting for cash discounts is used. 3-b. Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on December 15, 2021, assuming that the net method of accounting for cash discounts is used. Complete this question by entering your answers in the tabs below. Req 3A Req 38 Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on November 26, 2021, assuming that the net method of accounting for cash discounts is used. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < Record the sale of 100 units with a list price of $760, a 25% trade discount (if applicable), with terms of 2/10, n/30 under the net method