Required information [The following information applies to the questions displayed below.] Tracy Company, a manufacturer of air conditioners, sold 200 units to Thomas Company on November 17, 2021. The units have a list price of $350 each, but Thomas was given a 30% trade discount. The terms of the sale were 2/10, n/30. Thomas uses a perpetual inventory system. Required: 1. Prepare the journal entries to record the (a) purchase by Thomas on November 17 and (b) payment on November 26, 2021. Thomas uses the gross method of accounting for purchase discounts. 2. Prepare the journal entry for the payment, assuming instead that it was made on December 15, 2021. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entries to record the (a) purchase by Thomas on November 17 and (b) payment on November 26, 2021. Thomas uses the gross method of accounting for purchase discounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No 1 2 Date November 17, 202 Inventory Accounts payable November 26, 202 Accounts payable Cash General Journal < Required 1 Required 2 > Debit Credit 48,020 48,020 48,020 48,020 Required information [The following information applies to the questions displayed below.] Tracy Company, a manufacturer of air conditioners, sold 200 units to Thomas Company on November 17, 2021. The units have a list price of $350 each, but Thomas was given a 30% trade discount. The terms of the sale were 2/10, n/30. Thomas uses a perpetual inventory system. Required: 1. Prepare the journal entries to record the (a) purchase by Thomas on November 17 and (b) payment on November 26, 2021. Thomas uses the gross method of accounting for purchase discounts. 2. Prepare the journal entry for the payment, assuming instead that it was made on December 15, 2021. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry for the payment, assuming instead that it was made on December 15, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Debit Credit 48,020 980 49,000 No Date General Journal 1 December 15, 202 Accounts payable Purchases Cash < Required 1 Required 2 >