Question: plz write clearly Required information PA2-2 Recording Transactions (in a Journal and T-Accounts); Preparing a Trial Balance; Preparing and Interpreting the Balance Sheet [LO 2-2,
plz write clearly


Required information PA2-2 Recording Transactions (in a Journal and T-Accounts); Preparing a Trial Balance; Preparing and Interpreting the Balance Sheet [LO 2-2, LO 2-3, LO 2-4, LO 2-5) [The following information applies to the questions displayed below.) Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the following at June 30: Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 20,000 100,000 36,000 180,000 118,000 200,000 2,000 259,000 7,000 During the month of July, the company had the following activities: a. Issued 4,000 shares of common stock for $400,000 cash. b. Borrowed $100,000 cash from a local bank, payable in two years. c. Bought a building for $182,000; paid $82,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $200,000. e. Purchased supplies for $30,000 on account. PA2-2 Part 2 2. Record the transaction effects determined in part 1 using a journal entry format. (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 Issued 4,000 shares of common stock for $400,000 cash. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal
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