Prepare journal entries to record the following August 2020 transactions of a new business called For the love of Powels Aug. 1 Joseph Eagle, the owner, invested $22.000 cash and photography equipment with fair value of $44,000. 1 Rented a studio, paying $12, 600 for the next three months in advance. 5 Purchased office supplies for $1,900 cash. 20 Received $9,300 in photography revenue. 31 Paid $1,420 for August utilities. View transaction list Journal entry worksheet