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Question: the first seven transactions of gallagher advertising inc have been...

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LO E2-33B. (Learning Objective 4: Journalize entries and calculate ending balances) The first seven transactions of Gallagher Advertising, Inc., have been posted to the companys accounts: Cash Supplies 900 (5) Land (1) 8,8004) ,00 (3) (2) 8,500 (6) 90(4) 34,000 7) 4,000 290 90 (7 4,000 Accounts Payable 290 (3) Note Payable Common Stock (2) 8,500 (4) 23,000 900 (1) 8,800 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 Gallagher moves into the next period, how much cash does the business have? How much does Gal- lagher owe in total liabilities?

The first seven transactions of Gallagher Advertising, Inc., have been posted to the company’s accounts:
LO 4

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