The following transactions occurred during the month of June 2021 for the Stridewell Corporation. The company owns and operates a retail shoe store. Issued 100,000 shares of common stock in exchange for $500,000 cash. Purchased office equipment at a cost of $100,000. $40,000 was paid in cash and a note payable was signed for the balance owed. Purchased inventory on account at a cost of $200,000. The company uses the perpetual inventory system. Credit sales for the month totaled $280,000. The cost of the goods sold was $140,000.Paid $6,000 in rent on the store building for the month of June. Paid $3,000 to an insurance company for fire and liability insurance for a one-year period beginning June 1, 2021.Paid $120,000 on account for the merchandise purchased in 3.Collected $55,000 from customers on account. Paid shareholders a cash dividend of $5,000.Recorded depreciation expense of $2,000 for the month on the office equipment. Recorded the amount of prepaid insurance that expired for the month.

Sew below

Explanation:

Sidwell

Debit Cash account $500,000

Credit Common stock $625,00

To record the issue of 100,000 shares for cash

Debit office equipment $100,000

Credit cash account $40,000

Credit notes payable $60,000

To record the purchase of office equipment

Debit inventory $200,000

Credit Accounts payable $200,000

To record the purchase of inventory

Debit Accounts receivables $280,000

Credit Sales revenue $280,000

To record the sales of goods on account

Debit Cost of goods sold $140,000

Credit Inventory $140,000

To record the cost of goods sold

Debit rent expenses $6,000

Credit cash account $6,000

To record the payment of rent for the month

answer; communication channel;

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.