l me lollowing lnior mallon dpples to tre questions displayed below. Laser Delivery Services, Inc. (LDS), was incorporated January 1. The following transactions occurred during the year: a. Received $40,000 cash from the company's founders in exchange for common stock. b. Purchased land for $12,000, signing 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 $2,000 cash and signed a note due in three years for $18,000 (ignore interest) d Paid $2,000 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks e. Stockholder Jonah Lee paid $300,000 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.) View transaction list Journal entry worksheet 2 4 Received $40,000 cash from the company's founders in exchange for common stock. Record the transaction Note: Enter debits before credits. Transaction General Journal Debit Credit Cash 40,000 Common Stock 40.000