Us MEU EU VE Tracy Company, a manufacturer of air conditioners, sold 125 units to Thomas Company on November 17,2021 The units have a list price of 5720 each, but Thomas was given a 30% trade discount. The terms of the sale were 2/10,n/30 Exercise 7-5 (Algo) Part - 1 Required: 1. Prepare the journal entries to record the sale on November 17 ognore cost of goods and collection on November 26, 2021, assuming that the gross method of accounting for cash discounts is used 2. Prepare the journal entries to record the sole on November 17 (ignore cost of goods) and collection on December 15, 2021. assuming that the gross method of accounting for cash discounts is used, Complete this question by entering your answers in the tabs below. Reg1 Reg 2 Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on November 26, 2021, 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 Journal entry worksheet 2 > Record the sale of 125 units with a lat price of $720, a 30% trade discount (if applicable), with terms of 2/10, w/30 under the gross method. Natenter debits before credits Date General Journal Debat Credit November 17, 2021 Record entry Clear entry View general journal Reg 2 > Xem w wie W WEJ Tracy Company, a manufacturer of air conditioners, cold 125 units to Thomas Company on November 17, 2021. The units have o list price of $720 each, but Thomas was given a 30% trade discount. The terms of the sale were 2/10, 1/30 Exercise 7-5 (Algo) Part-1 Required: 1. Prepare the journal entries to record the sale on November 17 gnore cost of goods and collection on November 26, 2021 assuming that the gross method of accounting for cash discount is used. 2. Prepare the journal entries to record the sale on November 17 (ignore cost of goods and collection on December 15, 2021 assuming that the gross method of accounting for cash discounts is used Complete this question by entering your answers in the tabs below. Rea 1 Reg 2 Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on December 15, 2021, 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 Journal entry worksheet . 1 2 Record the sale of 125 units with a list price of $720, 30% trade discount of applicable), with terms of 2/10, 1/30 under the gross method. Notes Enter debits before credits General Journal Debit Credit Date November 17, 2021 Record entry Clear entry View general journal