The first seven transactions of Burrows Water Park Ltd$.$ have been posted to the$$ company's accounts as follows.

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Part $1$

Prepare the journal entries that served as the sources for the seven transactions. Include an explanation for each entry.

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.$)$

Account Titles and Explanation

Debit

Credit

$1.$

Part $2$

$$Next$,$ record transaction $2.($Record debits$$ first, then credits. Select the explanation on the last line of the journal entry$$ table.$)$

Account Titles and Explanation

Debit

Credit

$2.$

Part $3$

Record transaction $3.($Record debits$$ first, then credits. Select the explanation on the last line of the journal entry$$ table.$)$

Account Titles and Explanation

Debit

Credit

$3.$

Part $4$

Record transaction $4.($Record debits$$ first, then credits. Select the explanation on the last line of the journal entry$$ table.$)$

Account Titles and Explanation

Debit

Credit

$4.$

Part $5$

Record transaction $5.($Record debits$$ first, then credits. Select the explanation on the last line of the journal entry$$ table.$)$

Account Titles and Explanation

Debit

Credit

$5.$

Part $6$

Record transaction $6.($Record debits$$ first, then credits. Select the explanation on the last line of the journal entry$$ table.$)$

Account Titles and Explanation

Debit

Credit

$6.$

Part $7$

$$Finally$,$ record transaction $7.($Record debits$$ first, then credits. Select the explanation on the last line of the journal entry$$ table.$)$

Account Titles and Explanation

Debit

Credit

$7.$

Part $8$

As Burrows Water Park moves into the next$$ period, how much cash does the business$$ have?

The company's cash balance is:

Part $9$

How much does Burrows Water Park owe its$$ creditors?

The company owes: