The first seven transactions of Big Horn Advertising, Inc., have been posted to the company's accounts:

Requirement
1. Prepare the journal entries that served as the sources for the seven transactions. Include an explanation for each entry. As Big Horn moves into the next period, how much cash does the business have? How much does Big Horn owe in total liabilities?

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Cash Supple, 70 (4) 36,000 Land Equipment (1) 8,600 (4)7,000 (3 800 (5) (2) 7,500 (6 230 (7) 3,500 (3) 70 (7) 3,500 Accounts Payable 6) 230 (3) 800 Note Payable Common Stock (2) 7,500 (4) 29,000 (1) 8,600