ollowing are the transactions of a new company called Pose-for-Pics. August 1 M. Harris, the owner, invested $10,750 cash and $46,225 of photography equipment in the company in exchange for common stock. August 2 The company paid $2,200 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $2,043 cash. ugust 20 The company received $3,050 cash from taking photos for customers. ugust 31 The company paid $866 cash for August utilities. e each transaction above by showing its effects on the accounting equation-specifically, identify the accounts and amounts ng + or -) for each transaction. Use the following partial chart of accounts: Cash; Supplies; Prepaid Insurance; Equipment; on Stock; Services Revenue; and Utilities Expense. te ist 1 Equipment Assets (+) increase 46,225 = ist 1 Cash (+) increase 10,750 = 1st 2 Prepaid insurance (+) increase 2,200 = ist 2 Cash (-) decrease = ist 5 Supplies (+) increase 2,043 = ist 5 Cash (-) decrease = st 20 Cash (+) increase 3,050 = st 31 Cash (-) decrease 866 = Liabilities Equity Common Stock (+) increase + + + + + (+) increase + (-) decrease