Following are the transactions of a new company called Pose$-$for$-$Pics.

August $1$ M$.$ Harris, the owner, invested $$11,500$ cash and $$49,450$ of photography equipment in the company in exchange for common stock.

August $2$ The company paid $$3,200$ cash for an insurance policy covering the next $24$ months.

August $5$ The company purchased supplies for $$2,185$ cash.

August $20$ The company received $$3,450$ cash from taking photos for customers.

August $31$ The company paid $$872$ cash for August utilities.

Required:

Post the transactions to the T$-$accounts.

Use the amounts from the T$-$accounts in Requirement $(1)$ to prepare an August $31$ trial balance for Pose$-$for$-$Pics.

Answer rating: 100% (QA)

TAccounts for PoseforPics Cash Date Description Debit Credit Balance Aug 1 Investment 11500 11500 Au... View the full answer