june 1st abc company receives $50,000 cash from the owner as a contribution. june 3rd abc company pays $32,000 cash for equipment. june 5th abc company purchases $15,000 of merchandise inventory on credit from a supplier. june 8th abc company pays $ 800 in cash for employee salary. june 11th abc company pays $15,000 cash to settle the account payable created on june 5th. june 15th the owner withdraws $1,000 cash from abc company for personal use. june 19th abc company sold merchandise inventory that had cost $8,000 for $11,000 cash (note: this transaction will require two journal entries). june 24th abc company pays $560 cash for this month's utilities. june 27th abc company pays $6,000 cash (insurance premium) for a 6-month insurance policy. coverage begins july 1st.