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 Equipment Land. Notes Payable (long-term) Retained Earnings Supplies $ 27,800 156,000 58,250 155,000 138,000 262,000 3,250 440,100 11,900 During the month of July, the company had the following activities: a. 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. Bought a building for $233,000; paid $90,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $225,000. e. Purchased supplies for $54,250 on account. 4. Prepare a trial balance at July 31. DELIBERATE SPEED CORPORATION Trial Balance Totals $ EA Debit Credit 0 $ 0