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Question 6 of 25 -/1 E James Mayaguez engaged in the following activities in establishing his photography studio, Metlock: 1. Opened a bank account in

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Question 6 of 25 -/1 E James Mayaguez engaged in the following activities in establishing his photography studio, Metlock: 1. Opened a bank account in the name of Metlock and deposited $7,870 of his own money into this account in exchange for common stock. 2. Purchased photography supplies at a total cost of $1,630. The business paid $510 in cash and the balance is on account. 3. Obtained estimates on the cost of photography equipment from three different manufacturers. Prepare the journal entries to record the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) No. Account Titles and Explanation Debit Credit 1. 2

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