Required information [The following information applles to the questions displayed below.] Laser Dellvery Services, Incorporated (LDS), was incorporated January 1. The following transactions occurred during the year: a. Received $39,000 cash from the company's founders in exchange for common stock. b. Purchased land for $12,000, signing a two-year note (ignore interest). c. Bought two used delivery trucks at the start of the year at a cost of $15,000 each; paid $5,000 cash and signed a note due in three years for $25,000 (ignore interest). d. Paid $1,400 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e. Stockholder Jonah Lee paid $280,000 cash for a house for his personal use. 3. Show the effects of the journal entries by account, using T-accounts. Answer is not complete. Required information [The following information applies to the questions displayed below.] Laser Dellvery Services, Incorporated (LDS), was incorporated January 1. The following transactions occurred during the year: a. Recelved $39,000 cash from the company's founders in exchange for common stock, b. Purchased land for $12,000, signing a two-year note (ignore interest). c. Bought two used delivery trucks at the start of the year at a cost of $15,000 each; paid $5,000 cash and signed a note due in three years for $25,000 (ignore interest). d. Paid $1,400 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e. Stockholder Jonah Lee paid $280,000 cash for a house for his personal use. Prepare a classified balance sheet for Laser Dellvery Services at December 31. Include Retained Earnings on the balance sheet even though the account has a zero balance