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Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $7,000 cash and $34,000 of photography equipment in

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

Aug. 1 Madison Harris, the owner, invested $7,000 cash and $34,000 of photography equipment in the company in exchange for common stock.
2 The company paid $2,600 cash for an insurance policy covering the next 24 months.
5 The company purchased office supplies for $930 cash.
20 The company received $3,831 cash in photography fees earned.
31 The company paid $725 cash for August utilities.

Required: 1. Post the transactions to the T-accounts. 2. Use the amounts from the T-accounts in Requirement (1) to prepare an August 31 trial balance for Pose-for-Pics.

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