PA2-2 (Algo) Recording Transactions in a Journal and T-Accounts): Preparing a Trial Balance; Preparing and Interpreting the Balance Sheet (LO 2-1, LO 2-2, LO 2-3, LO 2-4, LO 2-5) [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 Accounts Payable $ 27,400 Buildings 146,000 Cash 52,750 Common Stock 190.000 Equipment 140,000 Land 220,000 Notes Payable (long-term) 5,950 Retained Earnings 342,700 Supplies 7,300 During the month of July, the company had the following activities: a. Issued 6,000 shares of common stock for $600,000 cash. b. Borrowed $151,000 cash from a local bank, payable in two years. c. Bought a building for $191,500; paid $92,500 in cash and signed a three-year note for the balance d. Pald cash for equipment that cost $228,000, e. Purchased supplies for $44,500 on account. 1. Analyze transactions ()-(e) to determine their effects on the accounting equation (Enter any decreases to account balances with a minus sign.) Assets Cash Supplies Buildings Equipment Land Liabilities Accounts Notes Payablo Payable 27.400 5,950 Stockholders' Equity Common Retained Stock Earnings 190,000 342,700 Beginning Balance 52.750 7,300 146,000 140,000 220,000 a + b - C d. Ending Balance 52,750 7.300 146,000 140.000 220,000 27 400 5,950 190,000 342,700