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[The following information applies to the questions displayed below.] Deliberate Speed Corporation (DSC) was incorporated...

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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 following at June 30 : During the month of July, the company had the following activities: a. Issued 4,400 shares of common stock for $440,000 cash. b. Borrowed $121,000 cash from a local bank, payable in two years. c. Bought a building for $229,750; paid $88,750 in cash and signed a three-year note for the balar d. Paid cash for equipment that cost $226,000. e. Purchased supplies for $54,750 on account. 3. Summarize the journal entry effects from part 2 using T-accounts. Required information

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