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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,

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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 : During the month of July, the company had the following activities a. Issued 4,900 shates of commin stock for $490,000cash b. Borrowed $117,000 cash from a local bank, payable in two years c. Bought a bulding for $267,250; paid $93,250 in cash and signed a three-year note for the baiance. d. Paid cash for equipment that cost $275,000 e. Purchased supplies for $53,250 on accourt 1. Analyze transactions (a)-(e) to determine their effects on the accounting equation. (Enter any decreases to account balances with a minus sign.)

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