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Really need help completing these, mainly problems 3 and 5, finishing the blanks and the errors, please and thank you! [The following information applies to
Really need help completing these, mainly problems 3 and 5, finishing the blanks and the errors, please and thank you!
[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 $20,900 109,000 38,500 195,000 142,000 214,000 4,350 293,850 10,600 During the month of July, the company had the following activities: a. Issued 4,900 shares of common stock for $490,000 cash. b. Borrowed $117,000 cash from a local bank, payable in two years. c. Bought a building for $267,250; paid $93,250 in cash and signed a three-year note for the balance d. Paid cash for equipment that cost $275,000. e. Purchased supplies for $53,250 on accountStep by Step Solution
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