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

Aug.		1		Madison Harris, the owner, invested $7,750 cash and $33,325 of photography equipment in the company in exchange for common stock.
		2		The company paid $3,500 cash for an insurance policy covering the next 24 months.
		5		The company purchased office supplies for $1,473 cash.
		20		The company received $2,850 cash in photography fees earned.
		31		The company paid $868 cash for August utilities.

Prepare general journal entries for the above transactions.

• 1

  Madison Harris, the owner, invested $7,750 cash and $33,325 of photography equipment in the company in exchange for common stock.

• 2

  The company paid $3,500 cash for an insurance policy covering the next 24 months.

• 3

  The company purchased office supplies for $1,473 cash.

• 4

  The company received $2,850 cash in photography fees earned.

• 5

  The company paid $868 cash for August utilities.

View transaction list Journal entry worksheet 1 2 3 4 5 Madison Harris, the owner, invested $7,750 cash and $33,325 of photography equipment in the company in exchange for common stock. Note: Enter debits before credits. General Journal Debit Credit Date Aug 01 Record entry Clear entry View general journal