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 $12,500 cash and $53,750 of photography equipment in the company in exchange for common stock. August 2 The company paid $2,400 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $2,375 cash. August 20 The company received $3,800 cash from taking photos for customers. August 31 The company paid $873 cash for August utilities. Prepare general journal entries for the above transactions. View transaction list Journal entry worksheet 1 2 Date August 05 3 Note: Enter debits before credits. The company purchased supplies for $2,375 cash. Record entry 4 5 General Journal Clear entry Debit Credit View general journal >
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 $12,500 cash and $53,750 of photography equipment in the company in exchange for common stock. August 2 The company paid $2,400 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $2,375 cash. August 20 The company received $3,800 cash from taking photos for customers. August 31 The company paid $873 cash for August utilities. Prepare general journal entries for the above transactions. View transaction list Journal entry worksheet 1 2 Date August 05 3 Note: Enter debits before credits. The company purchased supplies for $2,375 cash. Record entry 4 5 General Journal Clear entry Debit Credit View general journal >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Rahul bhaliya
![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 $12,500 cash and $53,750 of photography equipment in the company in
exchange for common stock.
August 2 The company paid $2,400 cash for an insurance policy covering the next 24 months.
August 5 The company purchased supplies for $2,375 cash.
August 20 The company received $3,800 cash from taking photos for customers.
August 31 The company paid $873 cash for August utilities.
Prepare general journal entries for the above transactions.
View transaction list
Journal entry worksheet
< 1
2
Date
August 05
3
Note: Enter debits before credits.
The company purchased supplies for $2,375 cash.
Record entry
4
5
General Journal
Clear entry
Debit
Credit
View general journal](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F84aa1b43-d586-4a5c-9d06-2e611daab9b8%2Fa55483fc-c87f-4be8-bf29-9fbc8afe1778%2Fsrzodrj_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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 $12,500 cash and $53,750 of photography equipment in the company in
exchange for common stock.
August 2 The company paid $2,400 cash for an insurance policy covering the next 24 months.
August 5 The company purchased supplies for $2,375 cash.
August 20 The company received $3,800 cash from taking photos for customers.
August 31 The company paid $873 cash for August utilities.
Prepare general journal entries for the above transactions.
View transaction list
Journal entry worksheet
< 1
2
Date
August 05
3
Note: Enter debits before credits.
The company purchased supplies for $2,375 cash.
Record entry
4
5
General Journal
Clear entry
Debit
Credit
View general journal
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