Tracy Company, a manufacturer of air conditioners, sold 120 units to Thomas Company on November...
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Tracy Company, a manufacturer of air conditioners, sold 120 units to Thomas Company on November 17, 2021. The units have a list price of $750 each, but Thomas was given a 20% trade discount. The terms of the sale were 2/10, n/30. quired: Prepare the journal entries to record the sale on November 17 (ignore cost of ods) and collection on November 26, 2021, assuming that the gross method of counting for cash discounts is used. Prepare the journal entries to record the sale on November 17 (ignore cost of ods) and collection on December 15, 2021, assuming that the gross method of counting for cash discounts is used. Complete this question by entering your answers in the tabs below. Req 1 Reg 2 Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on Novemi that the gross method of accounting for cash discounts is used. (If no entry is required for a transaction/event required" in the first account field.) View transaction list View journal entry worksheet No General Journal Debit Credit Date November 17, 2021 1 Accounts receivable Sales revenue Journal entry worksheet 1 2 > Record the sale of 120 units with a list price of $750, a 20% trade discount (if applicable), with terms of 2/10, n/30 under the gross method. Note: Enter debits before credits. General Journal Debit Credit Date November 17, 2021 Record entry Clear entry View general Journal
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