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 $ 25,900 118,000 46,500 200,000 123,000 203,000 3,700 274,700 13,800 During the month of July, the company had the following activities: a. Issued 6,100 shares of common stock for $610,000 cash. b. Borrowed $114,000 cash from a local bank, payable in two years. c. Bought a building for $272,250; paid $84,250 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $238,000. e. Purchased supplies for $31,250 on account. 2. Record the transaction effects determined in part 1 using a journal entry format. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list 1 Issued 6,100 shares of common stock for $610,000 cash. Record the transaction. 2 Borrowed $114,000 cash from a local bank, payable in two years. Record the transaction. 3 Bought a building for $272,250; paid $84,250 in cash and signed a three-year note for the balance. Record the transaction. Credit 4 Paid cash for equipment that cost $238,000. Record the transaction. 5 Purchased supplies for $31,250 on account. Record the transaction. journal entry has been entered Note : Record entry Clear entry View general journal >