Required information (The following information applies to the questions displayed below.) On July 15, 2021, the Nixon Car Company purchased 2,000 tires from the Harwell Company for $40 each. The terms of the sale were 3/10, n/30. Nixon 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, 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 View journal entry worksheet X No Date General Journal Debit Credit 1 July 15, 2021 77,600 Inventory Accounts payable 77,600 2 July 23, 2021 77,600 Accounts payable Inventory 77,600 Required information [The following information applies to the questions displayed below.] On July 15, 2021, the Nixon Car Company purchased 2,000 tires from the Harwell Company for $40 each. The terms of the sale were 3/10, n/30. Nixon 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, 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 entry for the payment, assuming instead that it was made on August 15, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet X No Date General Journal Debit Credit 1 77,600 August 15, 2021 Accounts payable Purchase discounts lost