The following transactions occurred during the month of June 2024 for the Stridewell Corporatlon. The company owns and operates a retail shoe store, 1. Issued 85,000 shares of common stock in exchange for $425,000 cash. 2. Purchased ofice equipment at a cost of $76,250. Cash of $30,500 was paid and a note payable was signed for the balance owed. 3. Purchased inventory on account at a cost of $170,000. The company uses the perpetual inventory system. 4. Credit sales for the month totaled $289,000. The cost of the goods sold was $144,500. 5. Paid $3,750 in rent on the store building for the month of June. 7. Paid $122,825 on account for company for fire and liability insurance for a one-year period beginning June 1, 2024. 8. Collected $57,800 from customers inventory purchased in transaction 3. 9. Paid shareholders a cash dividend of $4,250. 10. Recelved cash of $1,525 from customers in advance of services to be provided. Required: Prepare journal entries to record each of the transactions and events listed above. Note: If no entry is required for a transaction/event, select "No Journal entry required" in the first account field. Journal entry worksheet \begin{tabular}{|cccccc|} \hline 2 & 3 & 4 & 5 & 6 & 7 \\ \hline Issued 85,000 shares of common stock in exchange for $425,000 cash. \end{tabular} Note: Enter debits before credts