The first seven transactions of Devonshire Advertising, Inc., have been posted to the company's accounts: (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. Determine the ending balance in each account. As Devonshire moves into the next period, how much cash does the business have? How much does Devonshire owe in total liabilities? Data table Cash (1) 8,800 (4) 11,000 (2) 10,500 (6) 220 (5) 60 (7) 3,300 (3) Supplies 600 (5) Land 60 (4) 37,000 (7) Equipment 3,300 Accounts Payable Notes Payable Common Stock (6) 220 (3) 600 (2) 10,500 (1) 8,800 (4) 26,000 Print Done Accounts Payable Cash Common Stock Equipment Land Note Payable Supplies Begin by recording the journal entries; start with transaction (1). (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Now record the journal entry for transaction (5). 1. Journal Entry Accounts and Explanations Debit Credit Journal Entry Accounts and Explanations Debit Credit 5 Now record the journal entry for transaction (2). 2. Journal Entry Now, record the journal entry for transaction (6). Accounts and Explanations Debit Credit Journal Entry Accounts and Explanations Debit Credit 6. Now record the journal entry for transaction (3). Journal Entry Accounts and Explanations Debit Credit 3. Now record the journal entry for transaction (4). 4. Journal Entry Debit Credit Accounts and Explanations Finally, record the journal entry for transaction (7). Journal Entry Accounts and Explanations 7. Debit Credit