E2-12 (Algo) Analyzing the Effects of Transactions Using T-Accounts; Preparing and Interpreting a Balance Sheet [LO 2-2, LO 2-3, LO 2-4] [The following information applles to the questions displayed below.] Laser Dellvery Services, Incorporated (LDS), was incorporated January 1. The following transactions occurred during the year: a. Received $51,000 cash from the company's founders in exchange for common stock. b. Purchased land for $17.500, slgning a two.year note (ignore interest). c. Bought two used delivery trucks at the start of the year at a cost of $10,000 each; paid $3,000 cash and signed note due in three years for $17,000 (ignore interest). d. Paid $1,500 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e. Stockholder Jonah Lee poid $390,000 cash for a house for his personal use. E2-12 (Algo) Part 3 3. Show the effects of the journal entries by account, using T-accounts