Complete a journal entry for each transaction.

Then explain if the transaction has increased or decreased, assets, liabilities and equity.

1-Jun Issue common stock in exchange for cash of $120,000 2-Jun Obtain a loan of $30,000 from the bank by signing a note. 7-Jun Purchase car wash equipment for $75,000 cash. 8-Jun Receive $4,000 cash from customers for work to be performed next month. 10-Jun A utility bill of $1,300 for the current month is paid 12-Jun Wash 800 cars for $10 each, all on account, no customers have paid cash yet. 19-Jun Pay for 6 months of advertising in advance, costing $1,200 23-Jun Purchase cleaning supplies of $3,000 on account 30-Jun Receive $6,000 payment from customers accounts receivable. 30-Jun Pay dividends of $600 to stockholders. DATE DEBIT Brow Liabilities June 1st Cash 120,000 Common Stock $120,000 ncrease