please solve it all by typing to be clear for me & do table & explnation if the question need , thankyou

Exercise 1 (35 points) On March 1, 2019, Billy Inc. entered into a contract to deliver one of its specialty equipment to Jack Co. The contract requires Jack to pay the contract price of 1,200 in advance on March 15, 2019. Jack pays Billy on March 15, 2019, and Billy delivers the equipment (with cost of 775) on March 31, 2019. Instructions a. Prepare the journal entry on March 1, 2019, for Billy (5 pts). b. Prepare the journal entry on March 15, 2019, for Billy (10 pts). c. Prepare the journal entry on March 31, 2019, for Billy (20 pts). Exercise 2 (15 points) Presented below is information related to Dust Inc's inventory: per unit B Cost $197.00 111.00 53.00 Selling price 207.00 159.00 79.00 Cost to sellt Amer 21.00 olle 7.00 the 5.00 le East, 2020 Cost to complete 23.00 29.00 20.00 Determine the following: a) the net realizable value for each item (6 pts), and b) the carrying value of each item under LCNRV (9 pts)