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Prepare general journal entries for the following transactions of a new business called Pose for Pics. Aug. 1 Hashim Paris, the owner, invested $7,500 cash and $32,500 of photography equipment in the business.

1 Paid $3,000 cash for an insurance policy covering the next 24 months.

5 Purchased office supplies for $1,400 cash.

20 Received $2,650 cash in photography fees earned.

31 Paid $875 cash for August utilities.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9442950

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