Problem 13-1 (Part Level Submission) Described below are certain transactions of Pina Corporation. The company uses the periodic inventory system. 1 On February 2, the corporation purchased goods from Martin Company for $64,600 subject to cash discount terms of 2 10, /30 purchases and accounts payable are recorded by the corporation at net amounts after cash discounts. The invoice was paid on February 26 2. On April 1, the corporation bought a truck for $54,000 rom General Motors Company paying S2,000 in cash and signing a one-year 12% note or the balance of the purchase price 3. On May 1, the corporation borrowed $79,900 from Chicago National Bank by signing a $88,780 zero-interest-bearing note due one year from May 1. 4. On August 1, the board of directors declared a $305,500 cash dividend that was payable on September 10 to stockholders of record on August 31