2. The following transactions occur for Willows Boat Railway during the month of March a. Bought 90 anchors at $100 each. b. Received 2,000 ft of galvanized 1/2 inch chain on account for $3,800 c. Purchased 300 life jackets for resale to customers for $6,000. d. Sold 46 life jackets to customers for $40 each on account. Record these transactions in your best journal entry form! 20 Pt.s Debit Inventory Anchors Credit Debit Credit a. b. Inventory Chain | e. I inventory-Life Jackets Sales Life Jackets I inventory-Life Jackets d. Accounts Receivable of February: e. Painted 60 anchors safety yellow for $700. f. Cut and welded 1.000 ft of galvanized 1/2 inch chain into 33 30 ft. lengths for $500. g. Purchased 1,000 gal. gasoline for boats at $4.00 per gallon. h. Sold 100 gallons of gasoline to a customer for $800 on account. 20 Pt.s Record these transactions in your best journal entry form! Debit 700 Credit 700 Credit Inventory- Paint Maintenance Expense Debit Inventory - Anchors Inventory - Chain