Described below are certain transactions of Lamar Company for 2018 : 1. On May 10 , the company purchased inventory from Fox Company for $75,000, terms 2/10, n/30. Purchases and accounts payable are recorded at gross amount. The invoice was paid on May 18. 2. On June 1 , the company purchased equipment for $150,000 from Rao Company, paying $50,000 in cash and giving a one-year, 9% note for the balance (no discounting needed). 3. On September 30 , the company borrowed $270,000 by signing a one-year zero-interestbearing note with maturity value of $300,000 from Virginia State Bank. Prepare the journal entries necessary to record the transactions on May 10, May 18, June 1 and September 30