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The following transactions occurred during the month of June 2018 for the Stridewell Corporation. The company owns and operates a retail shoe store. 1. Issued 55.000 shares of common stock in exchange for $275.000 cash. 2 Purchased furniture and fixtures at a cost of $53.750. $21.500 was paid in cash and a note payable was signed for the balance owed. 3. Purchased Inventory on account at a cost of $110.000. The company uses the perpetual Inventory system. 4. Credit sales for the month totaled $187,000. The cost of the goods sold was $93,500. 5. Paid $2.250 in rent on the store building for the month of June. 6. Paid $1.320 to an insurance company for fire and liability Insurance for a one-year period beginning June 1, 2018. 7. Pald $79.475 on account for the merchandise purchased in 3. 8. Collected $37.400 from customers on account. 9. Pald shareholders a cash dividend of $2.750. 10. Recorded depreciation expense of $1.075 for the month on the furniture and fixtures. 11. Recorded the amount of prepaid Insurance that expired for the month. Required: Prepare joumal 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 lat Journal entry worksheet 1 7 8 12 Issued 55,000 shares of common stock in exchange for $275,000 cash. Note: Enter debits before credits General Journal Debit Credit Transaction 01 HHH

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