pies to the questions displayed below.] Following are the transactions of a new company called Pose-for-Pics. August 1 M. Harris, the owner, invested $7,500 cash and $32,250 of photography equipment in the company. August 2 The company paid $2,400 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $1,425 cash. August 20 The company received $3,050 cash from taking photos for customers. August 31 The company paid $868 cash for August utilities. Prepare general journal entries for the above transactions.
pies to the questions displayed below.] Following are the transactions of a new company called Pose-for-Pics. August 1 M. Harris, the owner, invested $7,500 cash and $32,250 of photography equipment in the company. August 2 The company paid $2,400 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $1,425 cash. August 20 The company received $3,050 cash from taking photos for customers. August 31 The company paid $868 cash for August utilities. Prepare general journal entries for the above transactions.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![S
Required information
[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 $7,500 cash and $32,250 of photography equipment in the company.
August 2 The company paid $2,400 cash for an insurance policy covering the next 24 months.
August 5 The company purchased supplies for $1,425 cash.
August 20 The company received $3,050 cash from taking photos for customers.
August 31 The company paid $868 cash for August utilities.
Prepare general journal entries for the above transactions.
View transaction list
Journal entry worksheet
1
2
3
Date
Note: Enter debits before credits.
4
M. Harris, the owner, invested $7,500 cash and $32,250 of photography
equipment in the company.
5
General Journal
Prey
Debit
2 3
S
Credit
4 5
of 11
7
Next >](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7ab9f140-81a5-4aaa-b139-9123517da390%2Fc72a420a-b329-4fb4-92a3-43ab66f672ff%2Fbpncbko_processed.jpeg&w=3840&q=75)
Transcribed Image Text:S
Required information
[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 $7,500 cash and $32,250 of photography equipment in the company.
August 2 The company paid $2,400 cash for an insurance policy covering the next 24 months.
August 5 The company purchased supplies for $1,425 cash.
August 20 The company received $3,050 cash from taking photos for customers.
August 31 The company paid $868 cash for August utilities.
Prepare general journal entries for the above transactions.
View transaction list
Journal entry worksheet
1
2
3
Date
Note: Enter debits before credits.
4
M. Harris, the owner, invested $7,500 cash and $32,250 of photography
equipment in the company.
5
General Journal
Prey
Debit
2 3
S
Credit
4 5
of 11
7
Next >

Transcribed Image Text:View transaction list
Journal entry worksheet
<
1
2
Date
August 01
3
Note: Enter debits before credits.
Record entry
M. Harris, the owner, invested $7,500 cash and $32,250 of photography
equipment in the company.
4
5
General Journal
Clear entry
Debit
Credit
View general Journal
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