During June 2000, Husky Inc. completed the following transactions. Prepare the journal entry for each transaction.

June 1 Received $\$ 200,000$ for 2,000 shares of capital stock.

2 Purchased $\$ 50,000$ of equipment, paying 25 percent for cash and 75 percent on a note payable.

5 Paid utilities of $\$ 1,500$ in cash.

9 Sold equipment for $\$ 25,000$ cash (no gain or loss).

13 Purchased $\$ 100,000$ of inventory, paying 50 percent for cash and 50 percent for credit.

14 Paid $\$ 5,000$ cash insurance premium for June.

15 Sold inventory costing $\$ 30,000$ for $\$ 45,000$ to customers on account to be paid at a later date.

20 Collected $\$ 3,000$ from accounts receivable.

24 Sold inventory costing $\$ 50,000$ for $\$ 69,500$ to customers for cash.

25 Paid yearly property taxes of $\$ 2,000$.

30 Paid $\$ 50,000$ of accounts payable for inventory purchased on June 13.