Prepare journal entries to record the following transactions of Robin King Corp. Assume that Robin King uses perpetual inventory system. If any transaction does have impact on the accounting equation, state "No Entry". 1. Started business by issuing 10,000 shares of common stock for $30,000. 2. Signed a franchise agreement to pay royalties of 10% of sales. 3. Leased a building for three years at $1,000 per month and paid six months' rent in advance. 4. Purchased equipment for $5,400, paying $1,000 down and signing a two-year, 10% note for the balance. 5. Robin King sold merchandise to a customer, receiving $13,000 down payment and a $15,000 note from the customer. The merchandise cost $12,000. 6. Robin King paid $4,400 for the equipment purchased in transaction (4)