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 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 $2,660 cash.
20	The company received $3,700 cash in photography fees earned.
31	The company paid $881 cash for August utilities.

Prepare general journal entries for the above transactions.

Journal Entry Worksheet

Aug 1 Madison Harris, the owner, invested $14,000 cash and $60,200 of photography equipment in the company.

Aug 2 The company paid $3,900 cash for an insurance policy covering the next 24 months.

Aug 5 The company purchased office supplies for $2,660 cash.

Aug 20 The company received $3,700 cash in photography fees earned.

Aug 31 The Company paid $881 in cash for utilites