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 6,200 shares of common stock for $620,000 cash. b. Borrowed $182,000 cash from a local bank, payable in two years. c. Bought a building for $258,250; paid $82,250 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $210,000. e. Purchased supplies for $47,250 on account. 3. Summarize the journal entry effects from part 2 using T-accounts. 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 6,200 shares of common stock for $620,000 cash. b. Borrowed $182,000 cash from a local bank, payable in two years. c. Bought a building for $258,250; paid $82,250 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $210,000. e. Purchased supplies for $47,250 on account. PA2-2 (Algo) Part 4 4. Prepare a trial balance at July 31. c. Bought a building for $258,250; paid $82,250 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $210,000. e. Purchased supplies for $47,250 on account. PA2-2 (Algo) Part 5 5. Prepare a classified balance sheet at July 31