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Exercise 2-8 Preparing T-accounts (ledger) and a trial balance LO P2 Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $7,200 cash and $34,200 of photography equipment in the company in exchange for cormon stock. 2 The company paid $2,800 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $950 cash. 20 The company received 14,031 cash in photography fees carned. 31 The company paid $745 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 meducation.com%252 omework Seved Dost the transactions to the T-accounts Aug 1 7.2001 Office Supplies 950 Aug. 5 2924 Balance 7.200 Balance 950 Aug 2 Prepald Insurance 2 800 Photography Equipment 34 200 Aug 1 sieniors Balance 2,800 Balance 34 200 Common Stock 41400 Photography Fees Earned Aug 20 4,031 Balance 41.400 Balance 4031 Utilities Expense 745 Aug 31 Balince 745 Required 2 & Pror 10 of 14 e Up Complete this question by entering your answers in the tabs below. Required 1 Required 2 Use the amounts from the T-accounts in Requirement (1) to prepare an August 31 trial balance 09 POSE-FOR-PICS Credit ces Trial Balance August 31 Debit Cash $ 7,200 Office supplies 950 Prepaid insurance 2,800 Photography equipment 34 200 Common stock Photography fees earned Utilities expense 745 Totals $ 45.895 $ 41.400 4031 45 431