PA2-2 Recording Transactions in a Journal and T-Accounts); Preparing a Trial Balance; Preparing and Interpreting the Balance Sheet (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 Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 28, 600 197,000 56,000 230,000 119,000 263,000 6, 750 376,850 7. 200 During the month of July, the company had the following activities: a. Issued 5,400 shares of common stock for $540,000 cash. b. Borrowed $119,000 cash from a local bank, payable in two years. c. Bought a building for $257,500; paid $90,500 in cash and signed a three-year note for the balance. d. Pald cash for equipment that cost $222,000. e. Purchased supplies for $33,750 on account. 5. Prepare a classified balance sheet at July 31. DELIBERATE SPEED CORPORATION Balance Sheet At July 31