Answer:
June 1 T. James, owner, invested $11,000 cash in Sustain Company in exchange for common stock.
Dr Cash 11,000
Cr Commons stock 11,000
June 2 The company purchased $4,000 of furniture made from reclaimed wood on credit.
Dr Furniture 4,000
Cr Accounts payable 4,000
June 3 The company paid $600 cash for a 12-month insurance policy on the reclaimed furniture.
Dr Prepaid insurance 600
Cr Cash 600
June 4 The company billed a customer $3,000 in fees earned from preparing a sustainability report.
Dr Accounts receivable 3,000
Cr Service revenue 3,000
June 12 The company paid $4,000 cash toward the payable from the June 2 furniture purchase.
Dr Accounts payable 4,000
Cr Cash 4,000
June 20 The company collected $3,000 cash for fees billed on June 4.
Dr Cash 3,000
Cr Accounts receivable 3,000
June 21 T.James invested an additional $10,000 cash in Sustain Company in exchange for common stock.
Dr Cash 10,000
Cr Common stock 10,000
June 30 The company received $5,000 cash from a client for sustainability services for the next 3 months.
Dr Cash 5,000
Cr Deferred revenue 5,000
