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 $41,000 cash from the company's founders in exchange for common stock. b. Purchased land for $16,000, signing a two-year note (ignore interest). c. Bought two used delivery trucks at the start of the year at a cost of $13,000 each; paid $1,500 cash and signed a note due in three years for $24,500 (ignore interest). d. Paid $1,000 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e. Stockholder Jonah Lee paid $360,000 cash for a house for his personal use. 3. Show the effects of the journal entries by account, using the T-account. Equipment Beg Bal. Beg Bal End. Bal. End. Bal Land Notes Payable Beg. Bal Beg Bal End. Bal End Bal Common Stock Beg Bal hp % 5 2 W