The following transactions occurred during the month of June 2018 for the Stridewell Corporation. The company owns and operates a retall shoe store. 1. Issued 100,000 shares of common stock in exchange for $500,000 cash. 2. Purchased furniture and fixtures at a cost of $100,000. $40,000 was pald In cash and a note payable was signed for the balance owed. 3. Purchased inventory on account at a cost of $200,000. The company uses the perpetual inventory system 4. Credit sales for the month totaled $280,000. The cost of the goods sold was $140,000. 5. Paid $6,000 in rent on the store building for the month of June. 6. Paid $3,000 to an insurance company for fire and liability insurance for a one-year period beginning June 1, 2018 7. Pald $120,000 on account for the merchandise purchased In 3. 8. Collected $55,000 from customers on account. 9. Paid shareholders a cash dividend of $5,000 10. Recorded depreclation expense of $2,000 for the month on the furniture and fixtures 11. Recorded the amount of prepaid insurance that expired for the month Required: Prepare journal entries to record each of the transactions and events listed above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 12 Issued 100,000 shares of common stock in exchange for $500,000 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 01