Exercise 2-23 Preparing journal entries LO P1 Following are the transactions of Sustain Company. June 1 1. James, owner, invested $11,500 cash in Sustain Company in exchange for common stock. 2 The company purchased $4,500 of furniture made from reclaimed wood on credit. 3 The company paid $700 cash for a 12-month insurance policy on the reclaimed furniture. 4 The company billed a customer $3,500 in fees earned from preparing a sustainability report. 12 The company paid $4,500 cash toward the payable from the June 2 furniture purchase. 20 The company collected $3,500 cash for fees billed on June 4. 21 1.James invested an additional $10,500 cash in Sustain Company in exchange for common stock. 30 The company received $5,500 cash from a client for sustainability services for the next 3 months. Prepare general journal entries for the above transactions. View transaction list Journal entry worksheet T. James, owner, invested $11,500 cash in Sustain Company in exchange for common stock. Note: Enter debits before credits. Date General Journal Debit Credit June 01