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

August 1	M. Harris, the owner, invested $12,500 cash and $53,750 of photography equipment in the company in exchange for common stock.
August 2	The company paid $3,200 cash for an insurance policy covering the next 24 months.
August 5	The company purchased supplies for $2,375 cash.
August 20	The company received $2,800 cash from taking photos for customers.
August 31	The company paid $879 cash for August utilities.