Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $12,750 cash and $54,825 of photography equipment in the company in exchange for common stock. 2 The company paid $3,900 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $2,423 cash. 20 The company received $3,950 cash in photography fees earned. 31 The company paid $872 cash for August utilities. Prepare general journal entries for the above transactions. Madison Harris, the owner, invested $12,750 cash and $54,825 of photography equipment in the company in exchange for common stock. Note: Enter debits before credits. Debit Credit Date General Journal Aug 01 The company paid $3,900 cash for an insurance policy covering the next 24 months. Note: Enter debits before credits. Date General Journal Debit Credit Aug 02 The company purchased office supplies for $2,423 cash. Note: Enter debits before credits. Debit Credit Date General Journal Aug 05 The company received $3,950 cash in photography fees earned. Note: Enter debits before credits. Debit Credit Date General Journal Aug 20 The company paid $872 cash for August utilities. Note: Enter debits before credits. Date General Journal Debit Credit Aug 31 Accounts payable Accounts receivable Advertising expense Automobiles Advertising expense Automobiles Building Cash Common stock Consulting fees earned Long-term notes payable Machinery Mileage expense Miscellaneous expenses det Notes payable Notes payable Office equipment Office supplies Operating expenses Photography equipment Photography fees earned Prepaid insurance Prepaid rent Rent expense Repairs expense