Described below are certain transactions of Lamar Company for 2014:

1.		On May 10, the company purchased goods from Fox Company for $75,800, terms 2/10, n/30. Purchases and accounts payable are recorded at net amounts. The invoice was paid on May 18.
2.		On June 1, the company purchased equipment for $94,800 from Rao Company, paying $36,000 in cash and giving a one-year, 9% note for the balance.
3.		On September 30, the company discounted at 10% its $220,000, one-year zero-interest-bearing note at Virginia State Bank.

(a) Prepare the journal entries necessary to record the transactions above using appropriate dates. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date Account titles & Explanations Debit Credit

May 10

May 18

June 1

September 30