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 $ 27,400 146,000 52,75e 190,000 140,000 220,000 5,950 342,700 7,300 During the month of July, the company had the following activities: a. Issued 6,000 shares of common stock for $600,000 cash. b. Borrowed $151,000 cash from a local bank, payable in two years. c. Bought a building for $191,500; paid $92,500 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $228,000. e. Purchased supplies for $44,500 on account. 2. Record the transaction effects determined in part 1 using a journal entry format. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet No Transaction General Journal Dabit Credit 1 a Cash Common Stock 600,000 600,000 2 b Cash 151,000 Notes Payable (long-term) 151,000 3 191,500 Buildings Cash Notes Payable (long-term) 92,500 d Equipment Cash 228,000 228,000 5 44,500 Supplies Accounts Payable 44,500 3. Summarize the journal entry effects from part 2 using T-accounts. Cash Beg. Bal. Supplies Beg. Bal. End. Bal. End, Bal Equipment Buildings Beg. Bal. Bog. Bal End. Bal. End. Bal. Land Accounts Payable Beg. Bal. Beg. Bal. End. Bal. End. Bal. Notes Payable Common Stock Beg. Bal. Bog. Bal. End. Bal. End. Bal. Retained Earnings Beg. Bal.