"Peak Enterprises" began its operations on January 1, 20X1. Throughout the year, the company engaged in several transactions to boost its business. Record the following transactions in the general journal and then post them to the general ledger.
Transactions:

1. Issued 6,000 shares of common stock at $60 per share, receiving cash.
2. Purchased inventory worth $40,000 on credit from "Mountain Suppliers."
3. Sold goods for $60,000 in cash.
4. Paid $25,000 to "Mountain Suppliers" for the inventory purchased.
5. Acquired machinery worth $50,000 in cash.
6. Received a utility bill for $7,000.
7. Paid rent amounting to $8,000.
8. Sold goods worth $40,000 on credit to "Summit Retailers."
9. Received $30,000 from "Summit Retailers" for the sale made on credit.
10. Paid salaries totaling $15,000.

Requirement:
Journalize all these transactions into a general ledger.