Exercise 2-4 (Algo) Journal entries [LO2-3] The following transactions occurred during the month of June 2024 for the Stridewell Corporation. The company owns and operates a retail shoe store. Issued 70,000 shares of common stock in exchange for $350,000 cash. Purchased office equipment at a cost of $65,000. Cash of $26,000 was paid and a note payable was signed for the balance owed. Purchased inventory on account at a cost of $140,000. The company uses the perpetual inventory system. Credit sales for the month totaled $238,000. The cost of the goods sold was $119,000. Paid $3,000 in rent