Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $7,500 cash and $32,250 of photography equipment in the company. 2 The company paid $2,100 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $1,425 cash. 20 The company received $2,300 cash in photography fees earned. 31 The company paid $875 cash for August utilities. Prepare general journal entries for the above transactions.

Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $7,500 cash and $32,250 of photography equipment in the company. 2 The company paid $2,100 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $1,425 cash. 20 The company received $2,300 cash in photography fees earned. 31 The company paid $875 cash for August utilities. Prepare general journal entries for the above transactions.

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Description: Following are the transactions of a new company called Pose-for-Pics.Aug. 1 Madison Harris, the owner, invested $7,500 cash and $32,250 of photography equipment in the company.2 The company paid $2,100 cash for an insurance policy covering the next

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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