Exercise 2-8 Preparing T-accounts (ledger) and a trial balance LO P2 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 $880 cash. 20 The company received $3,331 cash in photography fees earned. 31 The company paid $675 cash for August utilities. Required: 1. Post the transactions to the T-accounts. 2. Use the amounts from the T-accounts in Requirement (1) to prepare an August 31 trial balance for Pose-for-Pics. Office Supplies 880 2,100 Aug. 5 Aug. 1 Aug. 20 Cash 6,500 Aug. 2 3,331 Aug. 5 6,851 880 880 Aug. 31 Balance Balance 0 Prepaid Insurance Photography Equipment Balance 0 Balance Common Stock Photography Fees Earned Balance 0 Balance 0 Utilities Expense Navi