Journalizing Transactions Kauai Adventures rents and sells surfboards, snorkeling, and scuba equipment. During March, Kauai engaged in the following transactions: March 2 Received $45,600 cash from customers for rental. 3 Purchased on credit five new surfboards (which Kauai classifies as inventory) for $100 each. 6 Paid wages to employees in the amount of $8,000. 9 Paid office rent for the month in the amount of $700. 12 Purchased a new Ford truck for $16,800; paid $1,000 down in cash and secured a loan from Princeville Bank for the $15,800 balance. 13 Collected a $950 account receivable. 16 Paid an account payable in the amount of $870. 23 Borrowed $15,000 on a six-month, 8 percent note payable. 27 Paid