Exercise 2-8 (Static) Preparing journal entries LO A1 Following are the transactions of Sustain Company. June 1 T. James, owner, invested $11,000 cash in Sustain Company in exchange for common stock. June 2 The company purchased $4,000 of furniture made from reclaimed wood on credit. June 3 The company paid $600 cash for a 12-month prepaid insurance policy on the reclaimed furniture.. June 4 The company billed a customer $3,000 for sustainability services provided. June 12 The company paid $4,000 cash toward the payable from the June 2 furniture purchase. June 20 The company collected $3,000 cash for services billed on June 4. June 21 T. James invested an additional $10,000 cash in Sustain Company in exchange for common stock. June 30 The company received $5,000 cash in advance of providing sustainability services to a customer. Prepare general journal entries for the above transactions. View transaction list View journal entry worksheet No 1 Date June 01 Cash General Journal Debit Credit 11,000