Boyd Docker engaged in the following activities in establishing his photography studio, SnapShot!:
1. Opened a bank account in the name of SnapShot! and deposited $8,000 of his own money into this account in exchange for common stock.
2. Purchased photography supplies at a total cost of $950. The business paid $400 in cash, and the balance is on account.
3. Obtained estimates on the cost of photography equipment from three different manufacturers.
Prepare the journal entries to record the transactions.