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Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the...

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Accounting

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

Aug. 1 Madison Harris, the owner, invested $11,500 cash and $49,450 of photography equipment in the company in exchange for common stock.

2 The company paid $3,400 cash for an insurance policy covering the next 24 months.

5 The company purchased office supplies for $2,185 cash.

20 The company received $2,550 cash in photography fees earned.

31 The company paid $869 cash for August utilities.

Prepare general journal entries for the above transactions.

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