Financial Accounting

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

Aug. 1  

Madison Harris, the owner, invested $6,500 cash and $33,500 of photography equipment in the company in exchange for common stock.

2  The company paid $2,100 cash for an insurance policy covering the next 24 months.5  The company purchased office supplies for $880 cash.20  The company received $3,331 cash in photography fees earned.31  The company paid $675 cash for August utilities.

Prepare general journal entries for the above transactions.