Deliberate Speed Corporation (DSC) was incorporated as a private company. The companys accounts included the following at June 30:

Accounts Payable$ 20,600Buildings192,000Cash60,250Common Stock205,000Equipment157,500Land207,000Notes Payable (long-term)3,400Retained Earnings404,250Supplies16,500

During the month of July, the company had the following activities:

1. Issued 4,200 shares of common stock for $420,000 cash.
2. Borrowed $194,000 cash from a local bank, payable in two years.
3. Bought a building for $265,250; paid $97,250 in cash and signed a three-year note for the balance.
4. Paid cash for equipment that cost $282,000.
5. Purchased supplies for $37,250 on account.

Summarize the journal entry effects from part 2 using T-accounts. Using Cash, supplies, equipment, buildings, land, accounts payable, notes payable, common stock and retained earnings.