NoDirt, Inc. was incorporated on June 1, 2017 as a cleaning company. Questions 1 to 11 are based on NoDirt's transactions during their 1st month of operation. 1. June 1, 2017 - Issued stock to new owners and received $10,000 cash from the new owners. Account Name A. Common Stock 10,000 A Cash 10,000 B B. Common Stock 10,000 Owners' Investment 10,000 C. Cash 10,000 Common Stock 10,000 D. Due from Owners 10,000 Cash 10,000 Debit Credit 2 June 1, 2017 - Borrowed $12,000 from the bank. NoDirt will pay the loan back to the bank in 6 months. Account Name A B A. Note Receivable 12,000 Cash 12,000 B. Cash 12,000 Working Capital 12,000 C. Cash 12,000 Accounts Payable 12,000 D. Cash 12,000 Note Payable 12,000 E E. None of the above Debit Credit 3. June 1, 2017-Paid $1,500 cash to the landlord for June's rent. NoDirt does not record the monthly rent as an asset because the rent will be totally consumed by the end of the month. Account Name A. Cash 1,500 A Rent Expense 1,500 B B. Prepaid Rent 1,500 Cash 1,500 C. Rent Expense 1,500 Cash 1,500 D. Cash 1,500 Prepaid Rent 1,500 Debit Credit