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Accounts and Notes Payable Described below are certain transactions of Lamar Company for 2018 T On May 10 the company purchased foods from Fox Company

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Accounts and Notes Payable Described below are certain transactions of Lamar Company for 2018 T On May 10 the company purchased foods from Fox Company for $75.000, terms 130 2 On June 1, the company purchased equipment for $150.000 from Ra Company paying $50.000 in cath and giving a one year for the balance On September 10, the company received 1270,000, by signing a one-year tero interest bearing note of $300.00 at Virginia State Bank Instructions (a) Prepare the journal entries necessary to record the transactions above using appropriate dates

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