ACCT 201 Case Fall 2020 Page 5 Question 6. In June, 2020, Fashion, Inc. was established in Lafayette, Louisiana, to provide designer clothing for infants and children in the Acadiana area. Lexi Little and Annie Kane are the major stockholders in this corporation. Use the following data to prepare the journal entries for the following transactions that occurred during the month of June. June 1 3 6 13 17 Stockholders (Little & Kene) invested $120,000 cash in the business Purchased shelves and cash register for $18,000; paid $6,000 down and signed a 1 year 6% note for the balonce. Hired Trixie Keyes as a salesperson Purchased supplies for $1,500 on account, Completed and delivered a special order of customized clothing for a 3 year-old for $1,000 on account Received $200 when a customer purchased a gift card to be used in the future. Collected $100 from the transaction on June 17. Poid 56,000 for a one-year insurance policy effective July 1, 2020, Pald $1,000 rent and $500 for utilities used during the month. Paid receptionist $1,500 for June 20 26 27 28 29 Ref Debit Credit Date Account Tiles 120.000 Cash common stock 120,000