Prepare journal entries to record the following August 2023 transactions of a new business called For the Love of Pixels.

Aug. 1 Joseph Eagle, the owner, invested $20,000 cash and photography equipment with a fair value of $42,000.
1 Rented a studio, paying $12,000 for the next three months in advance.
5 Purchased office supplies for $1,800 cash.
20 Received $9,200 in photography revenue.
31 Paid $1,400 for August utilities.