Required information Exercise 8-10 (Algo) Purchase discounts; the net method (LO8-3] [The following information applies to the questions displayed below.] On July 15, 2021, the Nixon Car Company purchased 2,300 tires from the Harwell Company for $35 each. The terms of the sale were 4/10, n/30. Nixon uses a perpetual inventory system and the net method of accounting for purchase discounts. Exercise 8-10 (Algo) Parts 1 and 2 Required: 1. Prepare the journal entries to record the purchase on July 15 and payment on July 23, 2021. 2. Prepare the journal entry for the payment, assuming instead that it was made on August 15, 2021. Required 1 Required 2 Prepare the journal entries to record the purchase on July 15 and payment on July 23, 2021. (If no entry is required for transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record payment of July 15 purchase. Note: Enter debits before credits. Date General Journal Debit Credit August 15, 2021 Required information Exercise 8-10 (Algo) Purchase discounts; the net method (LO8-3] [The following information applies to the questions displayed below.) On July 15, 2021, the Nixon Car Company purchased 2,300 tires from the Harwell Company for $35 each. The terms of the sale were 4/10. n/30. Nixon uses a perpetual inventory system and the net method of accounting for purchase discounts. Exercise 8-10 (Algo) part 3 3. If Nixon instead uses a periodic inventory system, explain any changes to the journal entries created in requirements 1 and 2 The July 15 entry would include a debit to the account instead of to