Tracy Company, a manufacturer of air conditioners, sold 100 units to Thomas Company on November 17, 2016. The units have a list price of $600 each, but Thomas was given a 30% trade discount. The terms of the sale were 2/10, n/30.

Tracy Company, a manufacturer of air conditioners, sold 100 units to Thomas Company on November 17, 2016. The units have a list price of $600 each, but Thomas was given a 30% trade discount. terms of the sale were 2/10, n/30 Required 1. Prepare the journal entries to record the sale on November 17 ignore cost of goods) and collection on November 26, 2016, assuming that the gross method of accounting for cash discounts is used. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list view general journal Journal Entry Worksheet 12 Record the sale of 100 units with a list price of $600, a 30% trade discount (if applicable) with terms of 2/10, n/30 under the gross method. Date General Journal Debit Credit November 17, 2016 *Enter debits before credits done clear entry record entry