During June 2003, Husky, Inc., completed the following transactions. Prepare the journal entry for each transaction. 1 Received $200,000 for 2,000 shares of capital stock. 2 Purchased $50,000 of equipment, with 25% down and 75% 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% down and 50% 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 property taxes of $2,000. 30 Paid $50,000 of accounts payable for inventory purchased on June 13.