Part 10 The following the transa W BATTERY Your Mac will see power outlet Seved Help Sa Laser Delivery Services, Incorporated (LDS). was incorporated January 1. The following transactions occurred during the year: a. Received $34.000 cash from the company's founders in exchange for common stock, b. Purchased land for $12,500, 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 no due in three years for $18,000 (ignore interest) d. Paid $1.500 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e. Stockholder Jonah Lee paid $290,000 cash for a house for his personal use. 2. Record the effects of each item using a journal entry. (If no entry is required fo a kransaction/event, select "Na Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 5 1 Received $34,000 cash from the company's founders in exchange for common stock. Record the transaction Note: Enter debits before credits Transaction General Journal Debit Credit a 3. Show the effects of the journal entries by account, using T-accounts, Cash Equipment Debit Beginning Balance Credit Credit 34,000 Debit Beginning Balance ON!! Ending Balance 34,000 Ending Balance Land Notes Payr ble Debit Credit Credit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance Common Stock Credit Dobit Beginning Balance Ending Balance Journal entry worksheet