Following are the transactions of a new company called Pose-for-Pics August 1 M. Harris, the owner, invested $12,750 cash and $54,825 of photography equipment in the company in exchange for common stock. August 2 The company paid $2,700 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $2,423 cash. August 28 The company received $2,750 cash from taking photos for customers. August 31 The company paid $871 cash for August utilities.