Required Information [The following information applies to the questions displayed below

Required Information [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 $ 27,800 156, eee 58, 250 155, eee 138,eee 262,000 3,250 448,120 11,989 During the month of July, the company had the following activities: a. Issued 5,500 shares of common stock for $550,000 cash. b. Borrowed $135,000 cash from a local bank, payable in two years. c. Bought a building for $233,000; paid $90,000 in cash and signed a three-year note for the balance. d. Pald cash for equipment that cost $225,000. e. Purchased supplies for $54,250 on account. 4. Prepare a trial balance at July 31. Answer is complete but not entirely correct. DELIBERATE SPEED CORPORATION Trial Balance At July 31 Debit Credit Cash $ Supplies Land OOO 58.250 X 11.000 x 262.000 156,000 X 138.000 X® Buildings Equipment Accounts Payable Notes Payable (long-term) IS 27.800 x 3.250 Common Stock Retained Earnings Totals 155.000 440,100 O 626,150 IS 626,150