Described below are certain transactions of Tamarisk Corporation. The company uses the periodic inventory systen. 1- On February 2, the corporation purchased goods from Martin Company for S67.500 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 s47,000 trom General Motors Company, paying $5,000 in cash and signing a one-year, 10% note for the balance of the purchase price. 3. On May 1, the corporation borrowed $82,400 from Chicago National Bank by signing a $91,040 zero-interest-bearing note due one year from May 1 4. On August 1, the board of directors declared a $307,900 cash dividend that was payable on September 10 to stockholders of record on August 31 Your answer is partially correct. Try again. Make all the joumal entries necessary to record the transactions above using appropriate dates. (If no entry is required, select "No Entry" for the account ttles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered Do not indent manually.) Credit Date Account Titles and Explanation Debit urchase 85750 February 26 ble 85750 urchase Discounts 1750 87500 000 es Payabl May 1 iscount on Notes Pa es Payabl Notes Payable ust 1 idendsP 307800 mber 10 Dividends P