Check Exercise 2-4 (Algo) Journal entries [LO2-3] The following transactions occurred during the month of June 2021 for the Stridewell Corporation. The company owns and operates a retail shoe store. 1. Issued 125,000 shares of common stock in exchange for $625,000 cash. 2. Purchased office equipment at a cost of $102,500 $41,000 was paid in cash and a note payable was signed for the balance owed. 3. Purchased inventory on account at a cost of $250,000. The company uses the perpetual inventory system. 4. Credit sales for the month totaled $425,000. The cost of the goods sold was $212.500. 5. Paid $5,500 in rent on the store building for the month of June. 6. Paid $2,880 to an insurance company for fire and liability cance for a one year proteginning June 1, 2021. 7. Paid $180,625 on account for the merchandise purchased in 3 8. Collected $85,000 from customers on account. 9. Paid shareholders a cash dividend of $6.250. 10. Recorded depreciation expense of $2,050 for the month on the office equipment 11. Recorded the amount of prepaid insurance that expired for the month Required Prepare journal entries to record each of the transactions and events listed above. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list 1 of 9 Next > 0) hp