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Marx Corp, purchases 130 fax machines on credit from a manufacturer on April 7 ot a price of $290 per machine Terms of the purchase

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Marx Corp, purchases 130 fax machines on credit from a manufacturer on April 7 ot a price of $290 per machine Terms of the purchase are 4/10, 1/20 with an invoice date of April 7. Marx Corp pays in full for the fax machines on April 17. Create the journal entries for Marx Corp. to record: A. the initial purchase B. the subsequent payment on April 17 1 an amount box does not require an entry, leave it blank. Assume the perpetual inventory system is used. Apr. 7 Apr. 17

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