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.

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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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: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 >
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
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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