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] Skip to question [The following information applies to the questions displayed below.] Deliberate Speed Corporation (DSC) was incorporated as a private company. The companys accounts included the following at June 30: Accounts Payable $ 28,600 Buildings 197,000 Cash 56,000 Common Stock 230,000 Equipment 119,000 Land 263,000 Notes Payable (long-term) 6,750 Retained Earnings 376,850 Supplies 7,200 During the month of July, the company had the following activities: Issued 5,400 shares of common stock for $540,000 cash. Borrowed $119,000 cash from a local bank, payable in two years. Bought a building for $257,500; paid $90,500 in cash and signed a three-year note for the balance. Paid cash for equipment that cost $222,000. Purchased supplies for $33,750 on account. PA2-2 (Algo) Part 5 Prepare a classified balance sheet at July 31