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Described below are certain transactions of Bonita Corporation. The company uses the periodic inventory system.

On February $2,$ the corporation purchased goods from Metlock Company for $$69,500$ subject to cash discount terms of $\frac{2}{10},\frac{n}{30}.$ Purchases and accounts payable are recorded by the corporation at net amounts after cash discounts. The invoice was paid on February $26.$

On April $1,$ the corporation bought a truck for $$50,000$ from Oriole Motors Company, paying $$3,000$ in cash and signing a $1$year, $12\%$ note for the balance of the purchase price.

On May $1,$ the corporation borrowed $$88,300$ from Chicago National Bank by signing a $$98,140$ zero$-$interest$-$bearing note due $1$ year from May $1.$