Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the following at June 30: Accounts Payable Factory Building Cash Contributed Capital Equipment $17.680 102,100 28,100 187,000 125,000 Land Notes Payable (long term) Retained Earnings Supplies $207,680 3,400 262,500 7.700 During the month of July, the company had the following transactions: a. Issued 3,860 shares for $386,000 cash. b. Borrowed $104,000 cash from a local bank, payable in two years. c. Bought a factory building for $196,000, paid $89,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $214,000. e. Purchased supplies for $32,100 on account. 0 b C d 2. Record the transaction effects determined in requirement 1 using a journal entry format. (if no entry is requi transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 3. Summarize the journal entry effects from requirement 2 using T-accounts. Beg bal Beg bal End bal Equipment Factory Building Beg bal Beg bal End, bal End bal Accounts Payable Land Beg bal Beg. bal End, bal End bal Contributed Capital Notes Payable Notes Payable Contributed Capital Beg bal Beg bal End bal End bal Retained Earnings Beg bal End bal 4. Prepare a classified balance sheet at July 31. DELIBERATE SPEED CORPORATON Balance Sheet At July 31 Assets Liabilities Current assets Current liabilities Total current assets Total current liabilities Total liabilities Shareholders' equity Total shareholders' equity Total liabilities & shareholders' equity Total assets