Seved Help 0 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 $50,000 cash from the company's founders in exchange for common stock. b. Purchased land for $17,000, 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 $2,500 cash and signed a note due in three years for $27,500 (ignore interest). d. Paid $2,500 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e Stockholder Jonah Lee paid $380,000 cash for a house for his personal use. Record the effects of each item using a journal entry. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 > Received $50.000 cash from the company's founders in exchange for common Required information 3 Journal entry worksheet art 2 of 5 Purchased land for $17,000, signing a two-year note (ignore Interest). Record the transaction Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Prav 3 Next > Journal entry worksheet 25 Bought two used delivery trucks at the start of the year at a cost of $15,000 each; paid $2,500 cash and signed a note due in three years for $27,500 (Ignore interest). Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet Stockholder Jonah Lee paid $380,000 cash for a house for his personal use. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit e Record entry Clear entry View general Journal