Q$1$

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$[$The following information applies to the questions displayed below.$]$

Following are the transactions of a new company called Pose$-$for$-$Pics.

August $1$ M$.$ Harris, the owner, invested $$14,250$ cash and $$61,275$ of photography equipment in the company in exchange

for common stock.

August $2$ The company paid $$2,300$ cash for an insurance policy covering the next $24$ months.

August $5$ The company purchased supplies for $$2,708$ cash.

August $20$ The company received $$3,050$ cash from taking photos for customers.

August $31$ The company paid $$879$ cash for August utilities.

Prepare general journal entries for the above transactions.

Journal entry worksheet

M$.$ Harris, the owner, invested $$14,250$ cash and $$61,275$ of photography

equipment in the company in exchange for common stock.

Note: Enter debits before credits.