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0% 2 (20 pts) Indicate the accounts and by what amount they should be credited or debited to record the following transactions: [How you do it (T-accounts, ledger entries, etc), is up to you (a) Sell stock for $40,000. Buy $4,000 of inventory on account o.A truck that has a $20,000 book value is sold for $25,000. The buyer pays $15,000 and signs a $10,000 note. d)-pay. $2,000 to someone who sold you goods 20 days ago. e) Pay back a $20,000 loan to a bank. (15 pts) A gasoline distributor had 100,000 gallons of gasoline valued at $2.80/gallon. They bought 100,000 more gallons at $2.70/gallon, and subsequently 100,000 more gallons at $2.60 each. After that, they sold 150,000 gallons at $3.00 each. Their selling and administrative expenses are $10,000 and their tax rate is 25%, will they pay more taxes if they value their inventory using FIFO or LIFO, and what will be the difference in taxes between the two methods? 3