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

Aug.		1		Madison Harris, the owner, invested $8,250 cash and $35,475 of photography equipment in the company in exchange for common stock.
		2		The company paid $3,200 cash for an insurance policy covering the next 24 months.
		5		The company purchased office supplies for $1,568 cash.
		20		The company received $3,300 cash in photography fees earned.
		31		The company paid $870 cash for August utilities.

Prepare general journal entries for the above transactions.

Journal entry worksheet

Madison Harris, the owner, invested $8,250 cash and $35,475 of photography equipment in the company in exchange for common stock.

1-Madison Harris, the owner, invested $8,250 cash and $35,475 of photography equipment in the company in exchange for common stock.

2-The company paid $3,200 cash for an insurance policy covering the next 24 months.

The company paid $3,200 cash for an insurance policy covering the next 24 months.

3-The company purchased office supplies for $1,568 cash.

4-The company received $3,300 cash in photography fees earned.

5-The company paid $870 cash for August utilities.

General Journal DebitCredit Date Aug 01