More Info Land Supplies Equipment Cash 7,000 (3) 28,500 (6) 750 (5) 90 (1) 6,500 (4) 9,000 (3) (2) (5) 6,300 (6) 7,000 90 (7) 70 Accounts Payable Share Capital Note Payable (2) 6,300 (1) 9,000 750 (7) 70] (4) (3) 22,000 Print Done Clear All ve This e Text Pages Get More Help mbasalariesexce....xlsx Click the icon to view the accounts.) Requirement 1. Prepare the journal entries that served as the sources for the seven transactions. Include an explanation for each entry. As Portman moves into the next period, how much cash does the business have? How much does Portman owe In total llabilities? est Prepare the journal entries that served as the sources for the seven transactions. Include an explanation for each entry (Remember, when preparing journal entries record debits first, then credits. Leave unused cells blank. Explanations will appear on the last line of the journal entry) Begin by recording the journal entries, start with the first transaction Journal Entry Accounts and Explanations Debit Credit