Prepare journal entries for the following transactions forIce Station Zebra Corporation.Explanations may be omitted.20 POINTS

June 1Stockholderinvests $25,000 cash in exchange for common stock to start business.

June 2The firm borrowed $4,000 from the bank; a short-term note was signed.

June 2Merchandise inventory costing $1,500 was purchased; cash of $400 was paid and the balance is due in 30 days.

June 3Purchased supplies for $1,200 cash.

June 4Received bill froma local radio station for a $200 advertisement aired this date.

June 5This month's rent of $1,400 was paid.

June 16Employees were paid $3,800 in wages for their work during the first two weeks of the month.

June 18Paid $200 toa local radio stationfor advertising that was previously billed onJune 4.

June 29The board of directors declared and the company paid a cash dividend of $2,400.

June 30Revenues from services during month totaled $13,000. Of this amount, $4,000 was received in cash and the balance is expected to be received within 30 days.