*Problem 13-1 Described below are certain transactions of Vaughn Corporation. The company uses the periodic inventory system. 1. On February 2, the corporation purchased goods from Martin Company for $76,700 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. 2. On April 1, the corporation bought a truck for $49,000 from General Motors Company, paying $3,000 in cash and 3. On May 1, the corporation borrowed $78,300 from Chicago National Bank by signing a $87,420 zero-interest-bearing 4. On August 1, the board of directors declared a $321,600 cash dividend that was payable on September 10 to The invoice was paid on February 26 signing a one-year, 10% note for the balance of the purchase price. note due one year from May 1. stockholders of record on August 31