Required information Use the following information for Exercise 2-9 through Exercise 2-12 below. (Algo) [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 $13,250 cash and $56,975 of photography equipment in the company in exchange for common stock. August 2 The company paid $2,700 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $2,518 cash. August 20 The company received $2,450 cash from taking photos for customers. August 31 The company paid $866 cash for August utilities. Exercise 2-11 (Algo) Analyzing transactions using accounting equation LO A1 Analyze each transaction above by showing its effects on the accounting equation-specifically, identify the accounts and amounts including + or -) for each transaction. Use the following partial chart of accounts: Cash; Supplies; Prepaid Insurance; Equipment; Common Stock; Services Revenue; and Utilities Expense