P13.1 (L01) (Current Liability Entries and Adjustments) Describ certain transactions of Edwardson AG. The company uses the periodic inventory system. 1. On February 2, the company purchased goods from Martin Company for 70,000 subject to cash discount terms of 2/10, n/30. Purchases and accounts payable are recorded by Edwardson at net amounts after cash discounts. The invoice was paid on February 26. 2. On April 1, the company bought a truck for 50,000, paying 4,000 in cash and signing a 1-year, 12% note for the balance of the purchase price. 3. On August 1, the board of directors declared a 300,000 cash dividend that vas payable on September 10 to shareholders of record on August 31