Describe below are certain transactions of Blue corporation. The company uses the periodic inventory. 1. on February 2, the corporation purchased goods drom Martin company for $75800 subject to cash discounts. The invoice was paid on February 26. 2. On April1, the corporation bought a truck for $50000 from
Describe below are certain transactions of Blue corporation. The company uses the periodic inventory. 1. on February 2, the corporation purchased goods drom Martin company for $75800 subject to cash discounts. The invoice was paid on February 26. 2. On April1, the corporation bought a truck for $50000 from General Motor company, paying $5000 in cash and savings a one year, 10% note for the balance of the purchase price. 3. On May1, the corporation borrowed from Chicago national bank by signing a $96000 zero interest- bearing note due one year feom May1. 4. On August the board of directors decleared a $ 324,900 cash dividend that was payable on September 10 to stockholders of recorded on August 31. Make all
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