Required information (The following information applies to the questions displayed below) Laser Delivery Services, Incorporated (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 lignore 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. 3. Show the effects of the journal entries by account, using T-accounts. Equipment Debit Credit Debit Beginning Balance Credit Debit Beginning Balance Credit Ending Balance Ending Balance Land Notes Payable Credit Credit Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance * Common Stock Credit Debit Beginning Balance Ending Balance