Described below are certain transactions of Larkspur Corporation. The company uses the periodic inventory system. 1. 2. 3. On February 2, the corporation purchased goods from Culver Company for $64,800 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. On April 1, the corporation bought a truck for $50,000 from Ivanhoe Motors Company, paying $4,000 in cash and signing a 1- year, 10% note for the balance of the purchase price. On May 1, the corporation borrowed $91,100 from Chicago National Bank by signing a $99,740 zero-interest-bearing note due 1 year from May 1. Make all the journal entries necessary to record the transactions above using appropriate dates. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) ate Account Titles and Explanation Debit ry 2 Purchases Accounts Payable ary 26 Accounts Payable Purchase Discounts Lost Cash Trucks Cash Notes Payable 63504 63504 1296 50000 Credit 63504 64800 4000 46000 Cash Discount on Notes Payable Notes Payable 91100 8640 99740 Larkspur Corporation's year-end is December 31. Assuming that no adjusting entries relative to the transactions above have been recorded, prepare any adjusting journal entries concerning interest that are necessary to present fair financial statements at December 31. Assume straight-line amortization of discounts. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) No. Date Account Titles and Explanation 1. 2. December 31 December 31 Debit Credit 3. December 31