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

1.		On February 2, the corporation purchased goods from Martin Company for $63,200 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 was paid on February 26.
2.		On April 1, the corporation bought a truck for $46,000 from General Motors Company, paying $4,000 in cash and signing a one-year, 12% note for the balance of the purchase price.
3.		On May 1, the corporation borrowed $77,200 from Chicago National Bank by signing a $86,080 zero-interest-bearing note due one year from May 1.
4.		On August 1, the board of directors declared a $275,100 cash dividend that was payable on September 10 to stockholders of record on August 31.