Exercise 2-8 Preparing journal entries 1 Prepare general journal entries for the following transactions of Sustain Company. June 1 T. James, owner, invested $11,000 cash in Sustain Company. 2 The company 3 4 12 12 20 20 21 221 30 purchased $4,000 of furniture made from reclaimed wood on credit. The company paid $600 cash for a 12- month prepaid insurance policy on the reclaimed furniture. The company billed a customer $3,000 for sustainability services provided. The company paid $4,000 cash toward the payable from the June 2 furniture purchase. The company collected $3,000 cash for services billed on June 4. T. James invested an additional $10,000 cash in Sustain Company. The company received $5,000 cash in advance of providing services to a customer. sustainability