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. 1 Joseph Eetok, the owner, invested $24,000 cash and photography equipment with a fair value of $46,000. 1 Rented a studio, paying $13,200 for the next three months in advance. 5 Purchased office supplies for $2,000 cash. 20 Received $9,400 in photography revenue. 31 Paid $1,440 for August utilities