Required information. 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] [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 $ 25,200 147,000 40,750 235,000 159,500 279,000 6,600 373.650 14,200 During the month of July, the company had the following activities: a. Issued 4,500 shares of common stock for $450,000 cash. b. Borrowed $118,000 cash from a local bank, payable in two years. c. Bought a building for $276,750; paid $87,750 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $237,000. e. Purchased supplies for $39,000 on account. PA2-2 (Algo) Part 5 5. Prepare a classified balance sheet at July 31. < Prev 8 of 8 Next > Required information. 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] [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 $ 25,200 147,000 40,750 235,000 159,500 279,000 6,600 373.650 14,200 During the month of July, the company had the following activities: a. Issued 4,500 shares of common stock for $450,000 cash. b. Borrowed $118,000 cash from a local bank, payable in two years. c. Bought a building for $276,750; paid $87,750 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $237,000. e. Purchased supplies for $39,000 on account. PA2-2 (Algo) Part 5 5. Prepare a classified balance sheet at July 31. < Prev 8 of 8 Next >