
Concept explainers
Prepare general
Aug. 1 Madison Harris, the owner, invested $6,500 cash and $33,500 of photography equipment in the company in exchange for common stock.
2 The company paid $2,100 cash for an insurance policy covering the next 24 months.
2 The company purchased office supplies for $880 cash.
19 The company received $3,331 cash in photography fees earned.
28 The company paid $675 cash for August utilities.
Exercise D-7 Preparing general journal Entries PI

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Chapter D Solutions
Managerial Accounting - Connect Access
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- Principles of Accounting Volume 1AccountingISBN:9781947172685Author:OpenStaxPublisher:OpenStax College