Prepare the journal entries to record the (a) purchase by thomas on november 17 and (b) payment on november 26, 2021. thomas uses the gross method of accounting for purchase discounts. 2. prepare the journag l entry for the payment, assuming instead that it was made on december 15, 2021.

Colter steel has $5,550,000 in assets. temporary current assets $ 3,100,000 permanent current assets 1,605,000 fixed assets 845,000 total assets $ 5,550,000 assume the term structure of interest rates becomes inverted, with short-term rates going to 10 percent and long-term rates 2 percentage points lower than short-term rates. earnings before interest and taxes are $1,170,000. the tax rate is 40 percent earnings after taxes = ?