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

Requirement
Prepare the journal entries that served as the sources for the seven transactions. Include an explanation for each entry. As Splash Water Park moves into the next period, how much cash does the business have? How much does Splash Water Park owe?

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Cash Supplies Equipment Land (1) 20,000 (3) 8,000 (4) 1,000 3) 100 (6) 8,000 (2) 7,000 (6) 8,000 (3) 1007)400 (3) 31,000 Accounts Payable Note Payable Share Capital 400 4 1,000 (2) 7,000 (3) 23,000 (1) 20,000