Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $7, 500 cash and $32, 250 of photography equipment in the company in exchange for common stock. 2 The company paid $3, 800 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $1, 425 cash. 20 The company received $2, 250 cash in photography fees earned. 31 The company paid $874 cash for August utilities. Prepare general journal entries for the above transactions. Madison Harris, the owner, invested $7, 500 cash and $32, 250 of photography equipment in the company in exchange for common stock