Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the following at June 30: Accounts Payable $ 29,000 Buildings 159,000 Cash 39,500 Common Stock 150,000 Equipment 150,500 Land 239,000 Notes Payable (long-term) 3,500 Retained Earnings 418,300 Supplies 12,800 During the month of July, the company had the following activities: a. Issued 5,800 shares of common stock for $580,000 cash. b. Borrowed $111,000 cash from a local bank, payable in two years. c. Bought a building for $290,500; paid $104,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $217,000. e. Purchased supplies for $30,250 on account. 4. Prepare a trial balance at July 31. DELIBERATE SPEED CORPORATION Trial Balance Debit Credit Totals