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 $ 27,200 142,000 47,750 225,000 128,500 211,000 6,450 283,600 13,000 During the month of July, the company had the following activities: a. Issued 6,200 shares of common stock for $620,000 cash. b. Borrowed $182,000 cash from a local bank, payable in two years. c. Bought a building for $258,250; paid $82,250 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $210,000. e. Purchased supplies for $47,250 on account. A 3. Summarize the journal entry effects from part 2 using T-accounts.

Required intormation [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 : During the month of July, the company had the following activities: a. Issued 6,200 shares of common stock for $620,000 cash. b. Borrowed $182,000 cash from a local bank, payable in two years. c. Bought a buliding for $258,250; paid $82,250 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $210,000. e. Purchased supplies for $47,250 on account. 3. Summarize the joumal entry effects from part 2 using T-accounts