Required information [The following information applies to the questions displayed below.] Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $8,300 cash and $35,300 of photography equipnent in the company in exchange for common stock. 2 The company paid $3,900 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $1,060 cash. 20 The company received $5,131 cash in photography fees earned. 31 The company paid $855 cash for August utilities