Starbucks Corporation had the following transactions in March 2024:

• Issued 10,000 shares of common stock at $20 per share.
• Purchased inventory worth $100,000 on credit.
• Paid $50,000 in cash for advertising expenses.
• Sold inventory costing $60,000 for $120,000 on account.
• Paid $40,000 in cash for utilities.
• Collected $90,000 from customers for previous sales.

Prepare the journal entries for the above transactions.