Prepare journal entries to record the following August 2017 transactions of a new business called The Pixel Shop.(If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Aug.1Joseph Eetok, the owner, invested $25,000 cash and photography equipment with a fair value of $37,000.

Aug 1Rented a studio, paying $10,500 for the next three months in advance.

Aug 5Purchased office supplies for $1,550 cash.

Aug 20Received $8,950 in photography revenue.

Aug 31Paid $1,350 for August utilities.