Required information [The following information applies to the questions displayed below] On July 15, 2024, the Niche Car Company purchased 1,000 tires from the Treadwell Company for $50 each. The terms of the sale were 2/10, n/30 Niche uses a perpetual inventory system and the gross method of accounting for purchase discounts 3. If Niche instead uses a periodic inventory system, explain any changes to the journal entries created in Parts 1 and 2 The July 15 entry would include a debit to the The July 23 entry would include a credit to the account instead of to account instead of to Required information [The following information applies to the questions displayed below] On July 15, 2024, the Niche Car Company purchased 1,000 tires from the Treadwell Company for $50 each. The terms of the sale were 2/10, n/30. Niche uses a perpetual inventory system and the net method of accounting for purchase discounts Required: 1. Prepare the journal entries to record the purchase on July 15 and payment on July 23, 2024 2. Prepare the journal entry for the payment, assuming instead that it was made on August 15, 2024. 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, 2024. Note: If no entry is required for a transaction/event, select "No journal entry required in the first account field. View transaction list Check my 9 Help Save & Exit Check m Part 2 of 2 09 ents * Required information (The following information applies to the questions displayed below) On July 15, 2024, the Niche Car Company purchased 1,000 tires from the Treadwell Company for $50 each. The terms of the sale were 2/10, n/30. Niche uses a perpetual inventory system and the net method of accounting for purchase discounts 3. If Niche instead uses a periodic inventory system explain any changes to the journal entries created in Parts 1 and 2 Het ASA The July 15 entry would include a debit to the account instead of to