Balance Sheet [LO 2-2, LO 2-3, LO 2-4] [The following information applies to the questions displayed below] Laser Delivery Services, Incorporated (LDS), was incorporated January 1 . The following transactions occurred during the year: a. Received $39,000 cash from the company's founders in exchange for common stock. b. Purchased land for $15,000, signing a two-year note (ignore interest). c. Bought two used dellvery trucks at the start of the year at a cost of $11,000 each; paid $4,500 cash and signed a note due in three years for $17,500 (lgnore interest). d. Paid $2,000 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e. Stockholder Jonah Lee paid $340,000 cash for a house for his personal use. :2-12 (Algo) Part 2 2. Record the effects of each item using a journal entry. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet (2) (3) (4) Received $39,000 cash from the company's founders in exchange for common stock. Record the transaction. Note: Enter debits before credits