Required information [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 520,000 100,000 36,000 180,000 Equipment Land Notes Payable (long-term) Retained Earnings Supplies 110,000 200,000 2,000 259,000 7,000 During the month of July, the company had the following activities a. Issued 4,000 shores of common stock for $400,000 cash b. Borrowed $100,000 cash from a local bank, payable in two years c Bought a building for $182,000: paid $82.000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $200,000. e. Purchased supplies for $30,000 on account 3. Summarize the journal entry effects from part 2 using T-accounts Cash Supplies Debit Credit Debit Credit Beginning Balance 1 Beginning Balance Ending Balance Ending Balance Equipment Buildings Debit Credit Debit Credit Beginning Balance Beginning Balance Ending Balance Ending Balance Land Accounts Payable Debit Credit Debit Credit Beginning Balance Beginning Balance < Prev 456 7 of 10 Next >