The following transactions occurred during the month of June 2018 for Stridewell Corporation. The company owns and operates a retail shoe store.

1. Issued 150,000 common shares in exchange for $750,000 in cash.
2. She purchased furniture and accessories at a cost of $121,250. $48,500 was paid in cash and a promissory note was signed for the balance due.
3. Inventory purchased on account at a cost of $300,000. The company uses the perpetual inventory system.
4. Credit sales for the month totaled $510,000. The cost of goods sold was $255,000.
5. He paid $7,000 in rent on the store building for the month of June.
6. You paid $3,600 to an insurance company for fire and liability insurance for a period of one year beginning June 1, 2018.
7. He paid $216,750 on account for the merchandise purchased at 3.
8. Collected $102,000 from customers on account.
9. It paid shareholders a cash dividend of $7,500.
10. A depreciation expense of $2,425 per month was recorded on furniture and fixtures.
11. Recorded the amount of prepaid insurance that expired in the month.

Required:
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.)