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 $6,500 cash and $33,500 of photography equipment in the company in exchange for common stock. 2 The company paid $2,100 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $888 cash. 20 The company received $3,331 cash in photography fees earned. 31 The company paid $675 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 $6,500 cash and $33,500 of photography equipment in the company in exchange for common stock Note: Enter debits before credits Date General Journal Debit Credit Aug 01 SI Record entry Clear entry View general journal 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 $6,500 cash and $33,5ee of photography equipment in the company in exchange for common stock. 2 The company paid $2,100 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $850 cash. 20 The company received $3,331 cash in photography fees earned. 31 The company paid $675 cash for August utilities. Prepare general journal entries for the above transactions. View transaction list Journal entry worksheet