Question: Problem 13-01 (Part Level Submission) Described below are certain transactions of Shamrock Corporation. The company uses the periodic inventory system 1. On February 2, the

 Problem 13-01 (Part Level Submission) Described below are certain transactions of

Problem 13-01 (Part Level Submission) Described below are certain transactions of Shamrock Corporation. The company uses the periodic inventory system 1. On February 2, the corporation purchased goods from Martin Company for $68.100 subject to cash discount terms of 2/10, 30. Purchases and accounts payable are recorded by the corporation at net amounts or cash discounts. The woce was paid on February 26 2. On April 1, the corporation bought a truck for $51.000 from General Motors Company, paying $5.000 in cash and signing a one-year, 10% note for the balance of the purchase price 3. On May 1, the corporation Borrowed 58,600 from Chicago National Bank by i ga 597,720 ernterest-bearing note due one year from May 1 4. On August 1, the board of directors declared a $20,00 cash dividend that was payable on September 10 to stockholders of record on August 31 (a) Make Credit the journal entries necessary to record the transactions above using appropriate dates. ( antry required select "No Entry for the account s and enter of the amount s are automatically indented when amount is entered. Do not inden manually. Record journal entries in the order presented in the problem.) Date Accountries and Explanation

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