The following transactions occurred during the month of January Year 1 for the TSU CORPORATION. The company owns and operates a retail shoe store. 1. Issued 1,000 shares of common stock in exchange for $5,500 cash. 2. Purchased furniture and fixtures at a cost of $6,000. $4,000 was paid in cash and a note payable was signed for the balance owed. 3. Purchased inventory on account at a cost of $2,500. The company uses the perpetual inventory system. 4. Credit sales for the month totaled $3,000. The cost of the goods sold was $2,200. 5. Paid $1,000 in rent on the store building for the month of January. 6. Paid $370 to an insurance company for fire and liability insurance for a one-year period beginning January 1 , Year 1. 7. Paid $2,500 on account for the merchandise purchased in 3 . 8. Collected $3,100 from customers on account. 9. Paid shareholders a cash dividend of $600. 10. Recorded depreciation expense of $120 for the month on the furniture and fixtures. 11. Recorded the amount of prepaid insurance that expired for the month. Required: 1. Prepare journal entries to record each of the transactions and events listed above