Following are the transactions of a new company called Pose-for-Pics. 1 Madison Harris, the owner, invested $10,750 cash and $46,225 of photography equipment in the company. 2 The company paid $3,300 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $2,043 cash. 20 The company received $3,450 cash in photography fees earned. 31 The company paid $881 cash for August utilities. Aug. Prepare general journal entries for the above transactions.
Following are the transactions of a new company called Pose-for-Pics. 1 Madison Harris, the owner, invested $10,750 cash and $46,225 of photography equipment in the company. 2 The company paid $3,300 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $2,043 cash. 20 The company received $3,450 cash in photography fees earned. 31 The company paid $881 cash for August utilities. Aug. Prepare general journal entries for the above transactions.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Following are the transactions of a new company called Pose-for-Pics.
Aug.
1 Madison Harris, the owner, invested $10,750 cash and $46,225 of photography equipment in the company.
2 The company paid $3,300 cash for an insurance policy covering the next 24 months.
5 The company purchased office supplies for $2,043 cash.
20 The company received $3,450 cash in photography fees earned.
31 The company paid $881 cash for August utilities.
Prepare general journal entries for the above transactions.
View transaction list
Journal entry worksheet
1
4
>
The company paid $881 cash for August utilities.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
Aug 31
LO](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F61163f3e-f744-41bb-b1dd-479d3f83fc15%2Ffdf6a906-6f30-444a-b4eb-67d22385d237%2F09jsdwk_processed.png&w=3840&q=75)
Transcribed Image Text:Following are the transactions of a new company called Pose-for-Pics.
Aug.
1 Madison Harris, the owner, invested $10,750 cash and $46,225 of photography equipment in the company.
2 The company paid $3,300 cash for an insurance policy covering the next 24 months.
5 The company purchased office supplies for $2,043 cash.
20 The company received $3,450 cash in photography fees earned.
31 The company paid $881 cash for August utilities.
Prepare general journal entries for the above transactions.
View transaction list
Journal entry worksheet
1
4
>
The company paid $881 cash for August utilities.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
Aug 31
LO
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