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Required information The following informatlon applles ro the questlons alisplayed below ] Deliberate Speed Corporathon ( DSC ) was incorporated as a pnvate company. The

Required information
The following informatlon applles ro the questlons alisplayed below]
Deliberate Speed Corporathon (DSC) was incorporated as a pnvate company. The company's accounte included the
following at June 30 :
During the month of July, the company had the following activites:
a. Issued 6,600 shares of common stock for $660,000 cash.
b. Borrowed $178.000 cash from a local bank, payable in two years.
c. Bought a building for $235,000 : pald $84,000 in cash and signed a three-year note for the balance.
d. Pald cash for equlpment that cost $245.000.
e. Purchased supplies for $51,250 on account.
Summanize the joumal entry effects from part 2 using T-accounts.
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