Comfort Company purchased 150 units of inventory on November 17, 2024. The units have a list...
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Comfort Company purchased 150 units of inventory on November 17, 2024. The units have a list price of $460 each, but Comfort was given a 20% trade discount. The terms of the sale were 3/10. /30. Comfort uses a perpetual inventory system. 3. Prepare the journal entries 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Req 3A Req 3B Prepare the journal entries to record the (a) purchase by Comfort on November 17 and (b) payment on November 26, 2024. Comfort uses the net method of accounting for purchase discounts. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Comfort Company purchased 150 units of inventory on November 17, 2024. The units have a list price of $460 each, but Comfort was given a 20% trade discount. The terms of the sale were 3/10. /30. Comfort uses a perpetual inventory system. 3. Prepare the journal entries 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Req 3A Req 3B Prepare the journal entries to record the (a) purchase by Comfort on November 17 and (b) payment on November 26, 2024. Comfort uses the net method of accounting for purchase discounts. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
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