Required information E2-12 Analyzing the Effects of Transactions Using T-Accounts; Preparing and Interpreting a Balance Sheet (LO 2-2, LO 2-3, LO 2-4] The following information apples to the questlons displayed below] Laser Dellivery Services, Inc. (LDS), was incorporated January 1. The following transactions occurred during the year: a. Received $40,000 cash from the company's founders in exchange for common stock b. Purchased land for $12,000, 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 note due in three years for $18.000 (ignore interest) d. Pald $2.000 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e. Stockholder Jonah Lee paid $300,000 cash for a house for his personal use. E2-12 Part 3 3. Show the effects of the journal entries by account, using the T-account Cash Equipment Beg. Bal. Beg. Bal. End. Bal. End. Bal. Notes Payable Land Beg. Bal |Beg. Bal. End. Bal. End. Bal. Common Stock Beg. Bal End. Bal