August 1 Madison Harris, the owner, invested $7,500 cash and $32,250 of photography equipment in the company in exchange for common stock. August 2 The company paid $3,800 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $1,425 cash. August 20 The company received $3,300 cash from taking photos for customers. August 31 The coapany paid $873 cash for August utilities. Prepare general journal entries for the above transactions. Journal entry worksheet 5 Madison Harris, the owner, invested $7,500 cash and $32,250 of photography equipment in the company in exchange for common stock. Note: Enter debits before credits