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 $14,000 cash and $60,200 of photography equipment in the company. 2 The company paid $3,200 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $2,660 cash. 20 The company received $2,600 cash in photography fees earned. 31 The company paid $874 cash for August utilities. Prepare general journal entries for the above transactions. Journal entry worksheet Madison Harris, the owner, invested $14,000 cash and $60,200 of photography equipment in the company. Note: Enter debits before credits. Date General Journal Debit Credit Aug 01 Cash 14,000 Record entry Clear entry View general journal Journal entry worksheet