Prepare general journal entries for the following transactions of a new business called Pose-for-Pics.

Aug. 1 Madison Harris, the owner, invested $6,500 cash and $33,500 of photography equipment in the business in exchange for its common stock.

2 Paid $2,100 cash for an insurance policy covering the next 24 months.

5 Purchased office supplies for $880 cash.

20 Received $3,331 cash in photography fees earned.

31 Paid $675 cash for August utilities.