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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 95,000 shares of common stock in exchange for $475,000 cash. 2. Purchased furniture and fixtures at a cost of $83,750. $33,500 was paid in cash and a note payable was signed for the balance owed. 3. Purchased inventory on account at a cost of $190,000. The company uses the perpetual inventory system. 4. Credit sales for the month totaled $323,000. The cost of the goods sold was $161,500. 5. Paid $4,250 in rent on the store building for the month of June. 6. Paid $2.280 to an insurance company for fire and liability insurance for a one-year period beginning June 1, 2018 7. Paid $137,275 on account for the met purchased in 3 d $64,600 from customers on account 9. Paid shareholders a cash dividend of $4,750. 10. Recorded depreciation expense of $1,675 for the month on the furniture and foxtures. 11. Recorded the amount of prepaid insurance that expired for the month. 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.) Journal entry worksheet 12 Issued 95,000 shares of common stock irtexchange for $475,000 cash. 1 of 5 l Next >

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