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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's accounts include following at

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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's accounts include following at June 30: Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $25,900 118,000 46,500 200,000 123,000 203,000 3,700 274,700 13,800 During the month of July, the company had the following activities: a. Issued 6,100 shares of common stock for $610,000 cash. b. Borrowed $114,000 cash from a local bank, payable in two years. c. Bought a building for $272,250; paid $84,250 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $238,000. e. Purchased supplies for $31,250 on account

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