Exercise 2-7 Preparing general journal entries LO P1 Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $14,750 cash and $63,425 of photography equipment in the company in exchange for common stock. 2 The company paid $3,900 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $2,803 sh. 20 The company received $3,250 cash in photography fees earne 31 The company paid $874 cash for August utilities. Prepare general journal entries for the above transactions. View transaction list Journal entry worksheet 2 3 4 Madison Harris, the owner, invested $14,750 cash and $63,425 of photography equipment in the company in exchange for common stock Note: Enter debits before credits General Jotrnal Date Debit Aug 01