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

August $1M.$ Harris, the owner, invested $$14,750$ cash and $$63,425$ of photography equipment in the company in exchange for common stock.

August $2$ The company paid $$3,500$ cash for an insurance policy covering the next $24$ months.

August $5$ The company purchased supplies for $$2,803$ cash.

August $20$ The company received $$2,550$ cash from taking photos for customers.

August $31$ The company paid $$870$ cash for August utilities.

$$lyze each transaction above by showing its effects on the accounting equation$-$specifically, identify the accounts and amounts luding $+$ or $-)$ for each transaction. Use the following partial chart of accounts: Cash; Supplies; Prepaid Insurance; Equipment; nmon Stock; Services Revenue; and Utilities Expense.

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