Events and Transactions The accountant for Boatsman Products Inc. received the following information Required 1. Conceptual Connection: Indicate whether or not each item qualines as a transaction and should be recorded in the accounting system. Boatsman sent its customers a new price list. Prices were increased an average of 3% on a m This transaction for recognition because receiving a new price list ( affect the accounting equation h. Boatsman accepted an offer of $150,000 for land that it had purchased 2 years ago for $130,000. Cash and the deed for the property are to be exchanged in 5 days This transaction D for recognition because the offer C affect the accounting equation for recognition because the receipt of cash by Boataman and the delivery of the dead, c. Boatsman accepted $150,000 cash and geve the purchaser the deed for the property described in temb This transaction d. Boatsman's president purchased 600 shares of the firm's common stock from another stockholder. The president paid $15 per share. The former stockholder had purchased the shack from Boatsman for 4 per share The transaction G for recognition because the total of common stock of Boatsman changed as a result of this transaction Boataman leases its delivery trucks from a local dealer. The dealer abs performs maintenance on the trucks for Boatman Batman received a $1,254 bil for maintenance from the dealer This transaction for recognition, because Boatsman incurred an expense that will change stockholders' equity 2. Conceptual Connection: What accounting concept is lustrated by Item d?