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Required information Exercise 8-11 (Algo) Trade and purchase discounts; the gross method and the net method compared [LO8-3] [The following information applies to the questions displayed below] Comfort Company purchased 290 units of inventory on November 17,2024 . The units have a list price of $200 each, but. Comfort was given a 25% trade discount. The terms of the sale were 3/10,n/30. Comfort uses a perpetual inventory System. Exercise 8-11 (Algo) Part 3 3. Prepare the journal entrles to record the (a) purchase by Comfort on November 17 and payment on November 26,2024, and (b) December 15,2024 using the net method of accounting for purchase discounts. Complete this question by entering your answers in the tabs below. ises the int method of accooneling for purchese decovings. Journal entry workshect 2 Record the parthese of imention uses the net mothod at accourting for puchise drscourn: Journal entry worksheet gurctiase diccounts. Required information Prepare the journal entry for the payment, assuming instead that it was made on December 15, 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Alternatively, record payment on December 15 using the net method of accounting for purchase discounts. Notes Enter debits before credits

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