Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the following...

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Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the following at June 30: Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 22,500 112,000 52,500 175,000 151,000 290,000 5,650 410,250 7,900 During the month of July, the company had the following activities: a. Issued 5,100 shares of common stock for $510,000 cash. b. Borrowed $183,000 cash from a local bank, payable in two years. c. Bought a building for $210,750; paid $86,750 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $284,000. e. Purchased supplies for $37,000 on account. 2. Record the transaction effects determined in part 1 using a journal entry format. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the following at June 30: Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 22,500 112,000 52,500 175,000 151,000 290,000 5,650 410,250 7,900 During the month of July, the company had the following activities: a. Issued 5,100 shares of common stock for $510,000 cash. b. Borrowed $183,000 cash from a local bank, payable in two years. c. Bought a building for $210,750; paid $86,750 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $284,000. e. Purchased supplies for $37,000 on account. 2. Record the transaction effects determined in part 1 using a journal entry format. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)