Case Study #1 Prepare a journal entry The company has entered into an agreement with TJ Consulting Group effective June 1, 2018 for $500,000 annually to be paid monthly on the 1st of each month. Please prepare the debit and credit accounting entries for the following events: a.The first payment went out on June 15, 2018. b. The first wire payment was bounced with a $50 bank fee c. The second wire payment payment was executed on June 30, 2018.