Required information E2-12 (Algo) Analyzing the Effects of Transactions Using T-Accounts; Preparing and Interpreting a Balance Sheet [LO22, LO 2-3, LO 2-4] [The following information applles to the questions displayed below. Laser Delivery Services, Incorporated (LDS). was incorporated January 1. The following transactions occurred during the year: a. Recelved $41,000 cash from the company's founders in exchange for common stock. b. Purchased land for $16,000, signing a two year note (ignore interest). c. Bought two used delivery trucks at the start of the year at a cost of $13,000 each, paid $1,500 cash and signed a note due in three years for $24,500 (ignore interest). d. Paid $1,000 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e. Stockholder Jonah Lee paid $360,000 cash for a house for his personal use Required information E2-12 (Algo) Analyzing the Effects of Transactions Using T-Accounts; Preparing and Interpreting a Balance Sheet [LO22, LO 2-3, LO 2-4] [The following information applles to the questions displayed below. Laser Delivery Services, Incorporated (LDS). was incorporated January 1. The following transactions occurred during the year: a. Recelved $41,000 cash from the company's founders in exchange for common stock. b. Purchased land for $16,000, signing a two year note (ignore interest). c. Bought two used delivery trucks at the start of the year at a cost of $13,000 each, paid $1,500 cash and signed a note due in three years for $24,500 (ignore interest). d. Paid $1,000 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e. Stockholder Jonah Lee paid $360,000 cash for a house for his personal use