Following are the transactions of a new company called Pose-for-Pics.

Aug.		1		Madison Harris, the owner, invested $8,300 cash and $35,300 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 $1,060 cash.
		20		The company received $5,131 cash in photography fees earned.
		31		The company paid $855 cash for August utilities.

• 1

  Madison Harris, the owner, invested $8,300 cash and $35,300 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.

• 3

  The company purchased office supplies for $1,060 cash.

• 4

  The company received $5,131 cash in photography fees earned.

• 5

  The company paid $855 cash for August utilities.