Problem 2-60A Journalizing and Posting Transactions Cincinnati Painting Service Inc. specializes in painting houses. During June, its first month of operations, Cincinnati Painting engaged in the following transaction June. 1 Issued common stock for $25,000. 3 Purchased painting supplies from River City Supply for $1,675 on credit. 8 Purchased a used truck from Hamilton Used Car Sales for $13,700, paying $1,500 down and agreeing to pay the balance in 6 months. 14 Paid $4,230 to hourly employees for work performed in June. 22 illed various customers a total of $10,340 for June painting jobs. 26 29 Required: Received $6,100 cash from James Eaton for a house painting job completed and previously billed. Collected $520 from Albert Montgomery on completion of a 1-day painting job. This amount is not included in the June 22 bills. 1. Prepare a journal entry for each transaction. For a compound transaction, if an amount box does not require an entry, leave it blank June 1 Cashv Common Stock (Issued common stock) 25,000 25,000