[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 $13,000 cash and $55,900 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 $2,470 cash. August 20 The company received $3,000 cash from taking photos for customers. August 31 The company paid $881 cash for August utilities.