The following transactions occurred during the month of June $2024$ for the Stridewell Corporation. The company owns and operates a retail shoe store.

Issued $55,000$ shares of common stock in exchange for $$275,000$ cash.

Purchased office equipment at a cost of $$53,750.$ Cash of $$21,500$ was paid and a note payable was signed for the balance owed.

Purchased inventory on account at a cost of $$110,000.$ The company uses the perpetual inventory system.

Credit sales for the month totaled $$187,000.$ The cost of the goods sold was $$93,500.$

Paid $$2,250$ in rent on the store building for the month of June.

Paid $$1,320$ to an insurance company for fire and liability insurance for a one$-$year period beginning June $1,2024.$

Paid $$79,475$ on account for the inventory purchased in transaction $3.$

Collected $$37,400$ from customers on account.

Paid shareholders a cash dividend of $$2,750.$

Received cash of $$1,075$ from customers in advance of services to be provided.