The following transactions occurred during the company's first month. June 1 The owner invested $32,000 cash and vehicle worth $26,000 in the company. 2 The company rented furnished office space by paying $7,800 cash for the 6 month's rent in advance. 3 The company purchased $2,500 of office supplies for cash. 7 The company purchased goods for $4,500 on account. 10 The company paid $2,160 cash for the premium on a 6-month insurance policy. 16 The company sold goods for $4,050 by receiving a promissory note. 19 The company purchased goods for $2,250 in cash. 20 The company collected $1,600 cash for the services that will be rendered in coming days, 23 The company sold goods for $2,760 on account. 28 The company paid $4,400 cash for salaries earned by employees. 29 The company paid $750 cash for minor repairs to the company's vehicle. 30 The company paid $550 cash for this month's telephone bill. 30 The owner withdrew $1,200 cash from the company for personal use. Required: 1. Prepare journal entries to record the transactions for June and post them to the ledger accounts. Use Periodic Inventory Method for merchandising operations