Check my work mode: This shows whet is correct or incorrect for the work you have completed so far. it does not The following transactions occurred during the month of June 2018 for the Stridewell Corporation The company owns and operates a retail shoe store. Issued 115,000 shares of common stock in exchange for $575,000 cash. 2. Purchased furniture and fixtures at a cost of $95.000. $38,000 was paid in cash and a note payable wes spgned for te bdbance owed 3. Purchased inventory on account at a cost of $230,000 The company uses the perpetual inventory system 4. Credit sales for the month totaled $391,000. The cost of the goods sold was $195,500. 5. Paid $5,000 in rent on the store building for the month of June 6. Paid $2,640 to an insur 7. Paid $166,175 on account for the merchandise 8. Collected $78,200 from customers on account 9. Paid shareholders a cash dividend of $5,750 10. Recorded depreciation expense of $1,900 for the month on the furniture and fixtures 11. Recorded the amount of prepaid insurance that expired for the month ance company for fire and liability insurance for a one-year period beginning June t 2018 6,175 on account for the merchandise purchased in 3 Required: Prepare journal entries to record each of the transactions and events listed above (If no entry is required for a transection leven select "No journal entry required" in the first account fileld.) 3 Answer is not complete. 575,000 No Transaction Cash 01 Common stock 95.000 8 000 700 0 02 Fumiture and Extures Cash Note payable Inventory 03 91 000 Accounts payabla