1 Jessica Pothier opened FunFlatables on June 1. The company rents out moon walks and inflatable slides for parties and corporate events. The company also has obtained the use of an abandoned ice rink located in a local shopping mall, where its rental products are displayed and available for casual hourly rental by mall patrons. The following transactions occurred during the first month of operations.

1. Jessica contributed $50,000 cash to the company on June 1 in exchange for its common stock.

2. Purchased inflatable rides and inflation equipment on June 2, paying $20,100 cash.

3. Received $7,100 cash from casual hourly rentals at the mall on June 3.

4. Rented rides and equipment to customers for $13,150. Received cash of $4,450 on June 4 and the rest is due from customers.

5. Received $4,700 from a large corporate customer on June 5 as a deposit on a party booking for July 4.

6. Began to prepare for the July 4 party by purchasing various party supplies on June 6 on account for $1,350.

7. On June 7, paid $8,200 in cash for renting the mall space this month.

8. On June 8, prepaid next months mall space rental charge of $8,200.

9. Received $2,100 on June 9 from customers on accounts receivable.

10. Paid $1,250 for running a television ad on June 10.

11. Paid $4,250 in wages to employees on June 30 for work done during the month.

Required: 1. Prepare the journal entry for each of the above transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Jessica contributed $50,000 cash to the company on June 1 in exchange for its common stock. Record the transaction.

Purchased inflatable rides and inflation equipment on June 2, paying $20,100 cash. Record the transaction.

Received $7,100 cash from casual hourly rentals at the mall on June 3. Record the transaction.

Rented rides and equipment to customers for $13,150. Received cash of $4,450 on June 4 and the rest is due from customers. Record the transaction.

Received $4,700 from a large corporate customer on June 5 as a deposit on a party booking for July 4. Record the transaction.

Began to prepare for the July 4 party by purchasing various party supplies on June 6 on account for $1,350. Record the transaction.

On June 7, paid $8,200 in cash for renting the mall space this month. Record the transaction.

On June 8, prepaid next months mall space rental charge of $8,200. Record the transaction.

Received $2,100 on June 9 from customers on accounts receivable. Record the transaction.

Paid $1,250 for running a television ad on June 10. Record the transaction

Paid $4,250 in wages to employees on June 30 for work done during the month. Record the transaction.