uired information -2 (Algo) Recording Transactions (in a Journal and T-Accounts); Preparing a Trial Balance; Preparing Interpreting the Balance Sheet [LO 2-1, LO 2-2, LO 2-3, LO 2-4, LO 2-5] following information applies to the questions displayed below.] berate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the -wing at June 30: Ecounts Payable ildings -sh mmon Stock uipment und tes Payable (long-term) etained Earnings -pplies $ 24,900 196,000 56,750 160,000 148,000 201,000 3,050 423,500 9,700 ng the month of July, the company had the following activities: sued 5,600 shares of common stock for $560,000 cash. orrowed $106,000 cash from a local bank, payable in two years. ought a building for $240,250; paid $90,250 in cash and signed a three-year note for the balance. aid cash for equipment that cost $261,000. urchased supplies for $33,250 on account. 4. Prepare a trial balance at July 31. DELIBERATE SPEED CORPORATION Trial Balance At July 31 Debit Credit Totals $ 0 $ 0