Required information [The following information applies to the questions displayed below.] Tracy Company, a manufacturer of air conditioners, sold 160 units to Thomas Company on November 17, 2021. The units have a list price of $550 each, but Thomas was given a 40% trade discount. The terms of the sale were 2/10,n/30. Thomas uses a perpetual inventory system. . Prepare the journal entries to record the purchase by Thomas on November 17 and payment on November 26,2021 and Dece 5, 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. 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.)