The following are the transactions of a new company called Pose for Pics. August 1st Madison Harris,
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Question:
The following are the transactions of a new company called Pose for Pics. |
August 1st | Madison Harris, the owner, invested $14,000 in cash and $60,200 in photographic equipment in the business in exchange for common stock. |
2 | The company paid $3,900 in cash for an insurance policy that covered the next 24 months. |
5 | The company purchased office supplies for $2,660 in cash. |
20 | The company received $3,700 in cash in earned photography fees. |
31 | The company paid $881 in cash for utilities in August. |
Prepare general journal entries for the above transactions.
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