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Required information [The following information applies to the questions displayed below.) Tracy Company, a manufacturer of air conditioners, sold 220 units to Thomas Company on

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Required information [The following information applies to the questions displayed below.) Tracy Company, a manufacturer of air conditioners, sold 220 units to Thomas Company on November 17, 2021. The units have a list price of $300 each, but Thomas was given a 25% trade discount. The terms of the sale were 2/10, n/30. Thomas uses a perpetual inventory system. 3. Prepare the journal entries to record the purchase by Thomas on November 17 and payment on November 26, 2021 and December 15, 2021 using the net method of accounting for purchase discounts. Answer is not complete. Complete this question by entering your answers in the tabs below. Req Req 3B Prepare the journal entries to record the (a) purchase by Thomas on November 17 and (b) payment on November 26, 2021. Thomas uses the net 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 Date General Journal Debit Credit Complete this question by entering your answers in the tabs below. Req 3A Req 3B Prepare the journal entries to record the (a) purchase by Thomas on November 17 and (b) payment on November 26, 2021. Thomas uses the net 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.) Date General Journal Credit No Debit 1 November 17, 202 Inventory Accounts payable N November 26, 202 Accounts payable Req 3A Req 3B 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.) No Date General Journal Debit Credit December 15, 202 Accounts payable Inventory 1

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