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Required information The following information applies to the questions displayed below) De beste Speed Corporation (DSC) was incorporated as a private company. The company's accounts
Required information The following information applies to the questions displayed below) De beste Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the following at June 30: Accounts Payable Buildings Common Stock Equipment Land Notes Payable long-term) Retained Earnings Supplies $ 27.80 155, 58,25 155, 138,00 262,200 3,25 448,100 During the month of July, the company had the following activities: Issued 5,500 shares of common stock for $550,000 cash. b. Borrowed $135.000 cash from a local bank, payable in two years. c. Boughts building for $233.000 paid $90,000 in cash and signed a three-year nate for the balance d. Paid cash for equipment that cost $225,000. e Purchased supplies for $54.250 on account 3. Summarize the journal entry effects from part 2 using T-accounts. Answer is not complete. Supplies Beg. Bei Cach 58.250 560.000 135.000 Beg Bal a sls b 90.000 End. Bal 663.250 End Bel Building Equipment 138.000 Bog. Bal Beg Bal End. Bal 138.000 End. Bal Land Accounts Payable Bog. Bal Beg Bel End. Bal End. Bal. Notes Payable Common Book Bog. Bal Beg Ba End. Bal End. Bal. Ratained Earnings Bog. Bal End. Bal
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