### Required Information**Context:**Comfort Company purchased 100 units of inventory on November 7, 2024. The units have a list price of $500 each, but Comfort was given a 30% trade discount. The terms of the sale were "2/10, n/30." Comfort uses a perpetual inventory system.### Problem:Prepare the journal entries to record:1. (a) Purchase by Comfort on November 17 and payment on November 26, 2024.2. (b) Payment on December 15, 2024 using the net method of accounting for purchase discounts.### InstructionsComplete this question by entering your answers in the tabs below.#### Requirements:- **Req 3A:** - 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.*- **Req 3B:** - Prepare the journal entry for the payment, assuming instead that it was made on December 15, 2024. - *Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.*### Journal Entry Worksheet#### Entry for November 17, 2024:- **General Journal:** - Record the purchase of inventory.#### Instructions:- Enter debits before credits.#### Entry for December 15, 2024:- Alternatively, record payment on December 15 using the net method of accounting for purchase discounts.- **View Transaction List:** Allows users to view all related transactions.### Diagram Explanation:The diagram provided is a worksheet for recording journal entries. It includes fields for:- **Date**- **General Journal**- **Debit**- **Credit**The worksheet specifies that debits must be entered before credits, encouraging accurate and systematic recording of financial transactions.

Name: ### Required Information**Context:**Comfort Company purchased 100 uni
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: ### Required Information**Context:**Comfort Company purchased 100 units of inventory on November 7, 2024. The units have a list price of $500 each, but Comfort was given a 30% trade discount. The terms of the sale were "2/10, n/30." Comfort uses a p