Prepare general journal entries for the following transactions of a new company called Pose-for-Pics. Use the following partial chart of accounts: Cash; Supplies; Prepaid Insurance; Equipment; M. Harris, Capital; Services Revenue; and Utilities Expense. Aug. 1 M. Harris, the owner, invested $6,500 cash and $33,500 of photography equipment in the company. The company paid $2,100 cash for an insurance policy covering the next 24 months. The company purchased supplies for $880 cash. The company received $3,331 cash from taking photos for customers. 31 The company paid $675 cash for August utilities. 2 5 20 format Root genoral journal ontrion that impact coch

Prepare general journal entries for the following transactions of a new company called Pose-for-Pics. Use the following partial chart of accounts: Cash; Supplies; Prepaid Insurance; Equipment; M. Harris, Capital; Services Revenue; and Utilities Expense. Aug. 1 M. Harris, the owner, invested $6,500 cash and $33,500 of photography equipment in the company. The company paid $2,100 cash for an insurance policy covering the next 24 months. The company purchased supplies for $880 cash. The company received $3,331 cash from taking photos for customers. 31 The company paid $675 cash for August utilities. 2 5 20 format Root genoral journal ontrion that impact coch

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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