Ivanhoe Corporation has the following transactions during August of the current year.

Aug. $1$ Issues shares of common stock to investors in exchange for $$10,090.$

$4$ Pays insurance in advance for $3$ months, $$1,770.$

$16$ Receives $$870$ from clients for services rendered.

$27$ Pays the secretary $$550$ salary.

"Journalize the transactions. $($If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Credit

Cash $$

$$

Common Stock $$

$$

$$ Prepaid Insurance $$

$$

Cash $$

$$

Cash $$

$$

Service Revenue $$

$$

$$

$$

$$