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Laser Dellvery Services, Incorporated (LDS), was incorporated January 1. The following transactions occurred duting the year: a. Received $36,000 cash from the company's founders in exchange for common stock. b. Purchased land for $10,500, signing a two-year note fignore interest). c. Bought two used delivery trucks at the start of the year at a cost of $12,000 each; paid $3,500 cash and signed a note due in three years for $20,500 (ignore interest). d. Paid $1,100 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e. Stockholder Jonah Lee paid $250,000 cash for a house for his: personal use Record the effects of each item using a journal entry. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 5 Purchased land for $10,500, signing a two-year note (ignore interest). Record the transaction. Note: Enter debits belore credits. Loser Delivery Services, incorporated (COS), was incerporated January 1. The following transactions occurred during the year: a Recelved $36,000 cash from the company's founders in exchange for common stock. b. Purchased land for $10,500, signing a two-year note pgnore interest). c Bought two used delivery trucks at the start of the year at a cost of $12,000 each; paid $3,500 cash and signed a note due in three years for $20.500 (ignore interest). d. Paid $1,100 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e. Stockhoider Jonah Lee paid $250.000 cash for a house for his personal use: Record the effects of each item using a journal entry. of no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 45 Received $36,000 cash from the company's founders in exchange for common stock. Record the transaction. Note: Enter debits before credits. Laser Delivery Services, Incorporated (LDS), was incorporated January 1 . The following transactions occurred during the year: a. Received $36,000 cash from the company's founders in exchange for common stock. b. Purchased land for $10,500, signing a two-year note (ignore interest). c. Bought two used delivery trucks at the start of the year at a cost of $12,000 each; paid $3,500 cash and signed a note due in three years for $20,500 (ignore interest). d. Paid $1,100 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e. Stockholder Jonah Lee paid $250,000 cash for a house for his personal use. Record the effects of each item using a journal entry. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Paid $1,100 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. Record the transaction. Note: Enter debits before credits. Laser Delivery Services, Incorporated (LDS), was incorporated January 1. The following transactions occurred during the year: a. Received $36,000 cash from the company's founders in exchange for common stock. b. Purchased land for $10,500, signing a two-year note (ignore interest). c. Bought two used delivery trucks at the start of the year at a cost of $12,000 each; paid $3,500 cash and signed a note due in three years for $20,500 (ignore interest). d. Paid $1,100 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e. Stockholder Jonah Lee paid $250,000 cash for a house for his personal use. Record the effects of each item using a journal entry. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Stockholder Jonah Lee paid $250,000 cash for a house for his personal use. Record the transaction. Note: Enter debits before credits. Laser Delivery Services, Incorporated (LDS), was incorporated January 1 . The following transactions occurred during the year: a. Received $36,000 cash from the company's founders in exchange: for common stock. b. Purchased land for $10,500. signing a two-year note fignore interest). c. Bought two used delivery trucks at the start of the year at a cost of $12.000 each; paid $3,500 cash and signed a note due in three years for $20,500 (ignore interest). d. Paid $1,100 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e. Stockholder Jonah Lee paid $250,000 cash for a house for his personal use. Record the effects of each item using a journal entry. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 5 Bought two used delivery trucks at the start of the year at a cost of $12,000 each; paid $3,500 cash and signed a note due in three years for $20,500 (ignore interest). Record the transaction. Note: Enter debits before credits