Sea Horse Boats, Inc. Sea Horse is in the business of selling and servicing new and used pleasure boats. The business began on January 1 of this year. Sea Horse uses the specific identification method to manage its boat inventory. Sea Horse is on a calendar year (business year begins on January 1 and ends on December 31). Balances in their general ledger accounts as of November 30 follow (all balances are normal). Boats purchased by Sea Horse are paid for by borrowing on the floorplan loan. When a new boat is sold, the floorplan loan must be repaid immediately for the amount owed on that respective boat. On the following workpaper prepare the journal entry that would be necessary to record each of the above transactions