es Required information [The following information applies to the questions displayed below.] Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the following at June 30: Totals Accounts Payable Buildings Cash Common Stock Equipment 205,000 157,500 207,000 3,400 404,250 16,500 During the month of July, the company had the following activities: Land Notes Payable (long-term) Retained Earnings Supplies 4. Prepare a trial balance at July 31. a. Issued 4,200 shares of common stock for $420,000 cash. b. Borrowed $194,000 cash from a local bank, payable in two years. c. Bought a building for $265,250; paid $97,250 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $282,000. e. Purchased supplies for $37,250 on account. DELIBERATE SPEED CORPORATION $ 20,600 192,000 60,250 Trial Balance Debit 0 $ Credit 0

Required information [The following information applies to the questions displayed below.] Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the following at June 30 : During the month of July, the company had the following activities: a. Issued 4,200 shares of common stock for $420,000 cash. b. Borrowed $194,000 cash from a local bank, payable in two years. c. Bought a bullding for $265,250; paid $97,250 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $282,000. e. Purchased supplies for $37,250 on account. 4. Prepare a trial balance at July 31