Required information (The following information applies to the questions displayed below.) Laser Delivery Services, Inc. (LDS), was incorporated January 1. The following transactions occurred during the year. a. Received $36,000 cash from the company's founders in exchange for common stock b. Purchased land for $10,500, signing a two-year note (ignore interest). c. Bought two used delivery trucks at the start of the year at a cost of $12,000 each; paid $3,500 cash and signed a note due in three years for $20,500 (ignore interest). d. Paid $1,100 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e Stockholder Jonah Lee paid $250,000 cash for a house for his personal use. 2. Record the effects of each item using a journal entry. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Received $36,000 cash from the company's founders in exchange for common stock. Record the transaction. Natt Enter Habite herri Required information [The following information applies to the questions displayed below.) Laser Delivery Services, Inc. (LDS), was incorporated January 1. The following transactions occurred during the year. a. Received $36,000 cash from the company's founders in exchange for common stock. b. Purchased land for $10,500, signing a two-year note (ignore interest). c. Bought two used delivery trucks at the start of the year at a cost of $12,000 each; paid $3,500 cash and signed a note due in three years for $20,500 (ignore interest) d. Paid $1,100 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks e. Stockholder Jonah Lee paid $250,000 cash for a house for his personal use. 2. Record the effects of each item using a journal entry. (if no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet > 3 4 Purchased land for $10,500, signing a two-year note (ignore interest). Record the transaction Required information {The following information applies to the questions displayed below) Laser Delivery Services, Inc. (LDS), was incorporated January 1. The following transactions occurred during the year: a. Received $36,000 cash from the company's founders in exchange for common stock b. Purchased land for $10,500, signing a two-year note (ignore interest). c Bought two used delivery trucks at the start of the year at a cost of $12,000 each: paid $3,500 cash and signed a note due in three years for $20,500 (ignore interest). d. Paid $1,100 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e. Stockholder Jonah Lee paid $250,000 cash for a house for his personal use. 2. Record the effects of each item using a journal entry. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 5 2 4 3 Bought two used delivery trucks at the start of the year at a cost of $12,000 each; paid $3,500 cash and signed a note due in three years for $20,500 (ignore interest). Record the transaction. (The following information applies to the questions displayed below.) Laser Delivery Services, Inc. (LDS), was incorporated January 1. The following transactions occurred during the year. a. Received $36,000 cash from the company's founders in exchange for common stock. 6. Purchased land for $10,500, signing a two-year note (ignore Interest). c. Bought two used delivery trucks at the start of the year at a cost of $12,000 each; paid $3,500 cash and signed a note due in three years for $20,500 (ignore interest). d. Paid $1,100 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e Stockholder Jonah Lee paid $250,000 cash for a house for his personal use. 2. Record the effects of each item using a journal entry. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Paid $1,100 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. Record the transaction. Required Information [The following information applies to the questions displayed below.) Laser Delivery Services, Inc. (LDS), was incorporated January 1. The following transactions occurred during the year: a. Received $36,000 cash from the company's founders in exchange for common stock. b. Purchased land for $10,500, signing a two-year note (ignore interest). c. Bought two used delivery trucks at the start of the year at a cost of $12,000 each; paid $3,500 cash and signed a not due in three years for $20,500 (ignore interest), d. Paid $1,100 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e Stockholder Jonah Lee paid $250,000 cash for a house for his personal use. 2. Record the effects of each item using a journal entry. (If no entry is required for a transaction/event, select "No Journal E Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 Stockholder Jonah Lee paid $250,000 cash for a house for his personal use. Record the transaction