Harwell company manufactures automobile tires. on july 15, 2018, the company sold 1,000 tires to the nixon car company for $50 each. the terms of the sale were 2/10, n/30. harwell uses the gross method of accounting for cash discounts.

required:
1. prepare the journal entries to record the sale on july 15 (ignore cost of goods) and collection on july 23, 2018.
2. prepare the journal entries to record the sale on july 15 (ignore cost of goods) and collection on august 15, 2018.
record the sale of 1,000 tires for $50 each with a term of 2/10, n/30 under the gross method of accounting for cash discounts.

Wo firms, a and b, each currently dump 50 tons of chemicals into the local river. the government has decided to reduce the pollution and from now on will require a pollution permit for each ton of pollution dumped into the river. it costs firm a $100 for each ton of pollution that it eliminates before it reaches the river, and it costs firm b $50 for each ton of pollution that it eliminates before it reaches the river. the government gives each firm 20 pollution permits. government officials are not sure whether to allow the firms to buy or sell the pollution permits to each other. what is the total cost of reducing pollution if firms are not allowed to buy and sell pollution permits from each other? what is the total cost of reducing pollution if the firms are allowed to buy and sell permits from each other? a. $3,000; $1,500 b. $4,500; $3,500 c. $4,500; $4,000 d. $4,500; $2,500