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question tray companty a manafactuer automile tirs on july 15 2016 thecompany sold 1 4288933

Question

Tray companty a manafactuer automile tirs on july 15 2016 thecompany sold 1,000 tires on the noxon car company for $50 each theterms of sale were 2/10 n/30 harwell uses the gross method ofaccounting for cash discounts

1.prepare the journal entries to record the sales on november 17ignore cost of goods sold and collection on novmeber 26 216 assmingthatthe gross method of accounting for cash discounts used

2.prepare the journal entries to record te sale on july 15 inrecost of gods sold and colections on decemeber 15 2016 assuming thatthe gross method of accounting for cash discounts is used repeatrequirments 1-2 assuming that the net method of cash for discountswas used

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