The first five transactions of Flores Security Company have been posted to the company's accounts as follows:

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The first five transactions of Flores Security Company have been posted to the company's accounts as follows: A554T CASH ASSET SUPPLIES (1) 62,000 (3) 56,000 (2) 400 (4) 7,000 (5) 6,000 liability ACCOUNTS PAYABLE (2) ASSET EQUIPMENT (5) 6,000 Liability NOTE PAYABLE 400 T (4) 7,000 Journalizing transactions (Obj. 3) ASSE (3) 56,000 Equity. Ta TONY FLORES, CAPITAL 62,000 LAND Required Prepare the journal entries that served as the sources for the five transactions. Include an explanation for each entry as illustrated in the chapter.

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