Prepare journal entries to record the following August 2020 transactions of a new business called Sarah Ann Photography. Aug- 1 Sarah Ann, the owner, invested $17,000 cash and photography equipment with a fair value of $50,000. 1 Rented a studio, paying $14,400 for the next three months in advance. 5 Purchased office supplies for $2,200 cash. 20 Received $9,600 in photography revenue. 31 Paid $1,480 for August utilities. View transaction list Journal entry worksheet 1 2 3 4 5 6 Record the investment by owner. Note: Enter debits before credits. Date August 01, 2020 General Journal Debit Credit A