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[ The following information applies to the questions displayed below. ] Deliberate Speed Corporation ( DSC ) was incorporated as a private company. The company
The following information applies to the questions displayed below.
Deliberate Speed Corporation DSC was incorporated as a private company. The companys accounts included the following at June :
Accounts Payable $
Buildings
Cash
Common Stock
Equipment
Land
Notes Payable longterm
Retained Earnings
Supplies
During the month of July, the company had the following activities:
Issued shares of common stock for $ cash.
Borrowed $ cash from a local bank, payable in two years.
Bought a building for $; paid $ in cash and signed a threeyear note for the balance.
Paid cash for equipment that cost $
Purchased supplies for $ on account. Prepare a classified balance sheet at July
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