Use the information in Exercise 2-4 to prepare an August 31 trial balance for Pose-for-Pics. Open these T-accounts: Cash; Office Supplies; Prepaid Insurance; Photography Equipment; H. Paris, Capital; Photography Fees Earned; and Utilities Expense. Post the general journal entries to these T-accounts (which will serve as the ledger), and prepare a trial balance.

Exercise 2-4

Prepare general journal entries for the following transactions of a new business called Pose for Pics.
Aug. 1 Hashim Paris, the owner, invested \($7,500\) cash and \($32,500\) of photography equipment in the business.
1 Paid \($3,000\) cash for an insurance policy covering the next 24 months.
5 Purchased office supplies for \($1,400\) cash.
20 Received \($2,650\) cash in photography fees earned.
31 Paid \($875\) cash for August utilities.