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Chapter 7 HW G Check my work 9 Exercise 7-5 Trade and cash discounts; the gross method and the net method compared [LO7-3 Tracy Company, a manufacturer of air conditioners, sold 125 units to Thomas Company on November 17, 2018. The units have a list price of $720 each, but Thomas was given a 30% trade discount. The terms of the sale were 2/O-n30. points 1. Prepare the journal entries to record the sale on November 17 ognore cost of goods) and collection on November 2 assuming that the gross method of accounting for cash discounts is used. 2. Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on assuming that the gross method of accounting for cash discounts is used 3-a. Prepare the journal entries to record the sale on November 17 (ignore cost of g assuming that the net method of accounting for cash discounts is used. 3-b. Prepare the journal entries to record the sale on assuming that the net method of accounting for cash discounts is used. SkippedRequired: elook Print November 17 (ignore cost of goods) and collection on December 15, 2018, References Complete this question by entering your answers in the tabs below Req 2 Req 3A Req 38 Req 1 Journal entry worksheet Record the sale of 125 units with a list price of $720, a 30% trade discount (if applicable), with terms of 2/10, n/30 under the gross method. ipped Book Hint Print ferences Note: Enter debits before credits. Date General Journal Debit Credit November 17, 2018 Record entry Clear entry View general journal Saved Journal entry worksheet pped Record the cash collection on November 26 Book Note: Enter debits before credits Hint Date General Journal Debit Credit Print November 26, 2018 erences Record entry Clear entry View general journal Req 1 Req 2 Req 3A Req 3B Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on Decemb 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.) pped View transaction list Book Journal entry worksheet Hint Print ferences Record the sale of 125 units with a list price of $720, a 30% trade discount (if applicable), with terms of 2/10, n/30 under the gross method. Note: Enter debits before credits aie General Journal Debit Credit November 17, 2018 Saved Req 1 Req 2 Req 3A Req 3B Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on Decer that the gross method of accounting for cash discounts is used. (If no entry is required for a transaction/eve required" in the first account field.) ipped View transaction list eBook Journal entry worksheet Hint Print eferences Record the cash collection on December 15 Note: Enter debits before credits. Date General Journal Debit Credit December 15, 2018 Saved Help Req 1 Req 2 Req 3A Req 3B Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on November 26 that the net method of accounting for cash discounts is used. (If no entry is required for a transaction/event, select"N required" in the first account field.) View transaction list Journal entry worksheet nces Record the sale of 125 units with a list price of $720, a 30% trade discount (if applicable), with terms of 2/10, n/30 under the net method. Note: Enter debits before credits. Date General Journal Debit Credit November 17, 2018 Saved 7 HW Req 1 Req 2 Req 3A Req 38 Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on November that the net method of accounting for cash discounts is used. (If no entry is required for a transaction/event, sele required" in the first account field.) View transaction list Journal entry worksheet ook int rint rences Record the cash collection on November 26. Note: Enter debits before credits. Date General Journal Debit Credit November 26, 2018 Req 1 Req 2 Req 3A Req 38 Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on December 1 that the net method of accounting for cash discounts is used. (If no entry is required for a transaction/event, select required" in the first account field.) view transaction list Journal entry worksheet 2 Record the sale of 125 units with a list price of $720, a 30% trade discount (if applicable), with terms of 2/10, n/30 under the net method Note: Enter debits before credits. Date General Journal Debit Credit November 17, 2018 Req 1 Req 2 Req 3A Req 3B Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on December that the net method of accounting for cash discounts is used. (If no entry is required for a transaction/event, sele required in the first account field.) View transaction list Journal entry worksheet Record the cash collection on December 15. Note: Enter debits before credits. Date General Journal Debit Credit December 15,2018