ACCO 302-Asignacin Taller 3()-Competibility Mode Saved to thia PC Fania Duran o le Home nsert Design Layout References Maiings Review View Help ACROBAT Tell me ubl you wat to do & Share Commen ACCO 302-Asignacin Taller 3 P13-1 (L01) GROUPWORK (Current Liability Entries and Adjustments) Described below are certain transactions of Edwardson Corporation. The company uses the periodic inventory system. 1. On February 2, the corporation purchased goods from Martin Company for $70,000 subject to cash discount terms of 2/10, n/30. Purchases and accounts payable are recorded by the corporation at net amounts after cash discounts. The invoice 2. On April 1, the corporation bought a truck for $50,000 from General Motors Company, paying $4,000 in cash and signing 3. On May 1, the corporation borrowed $83,000 from Chicago National Bank by signing a $92,000 zero-interest-bearing note 4. On August 1, the board of directors declared a $300,000 cash dividend that was payable on September 10 to stockholders was paid on February 26 a 1-year, 12% note for the balance of the purchase price. due 1 year from May1. of record on August 31. Instructions (a) Make all the journal entries necessary to record the transactions above using appropriate dates