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Accounting

Q1
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[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 $14,250 cash and $61,275 of photography equipment in the company in exchange
for common stock.
August 2 The company paid $2,300 cash for an insurance policy covering the next 24 months.
August 5 The company purchased supplies for $2,708 cash.
August 20 The company received $3,050 cash from taking photos for customers.
August 31 The company paid $879 cash for August utilities.
Prepare general journal entries for the above transactions.
Journal entry worksheet
M. Harris, the owner, invested $14,250 cash and $61,275 of photography
equipment in the company in exchange for common stock.
Note: Enter debits before credits.
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