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Page 2 of 10 http://ezto.mhhm.mcgraw-hill.com/hm_accounting.tpx?todo=printview 2. award: 1 out of 1 point Exercise 2-4 Preparing general journal entries L.O. A1, P1 Prepare general journal entries for the following transactions of a new business called Pose for Pics. (Omit the "$" sign in your response.) Aug. 1 Madison Harris, the owner, invested $6,500 cash and $33,500 of photography equipment in the business. 2 Paid $2,100 cash for an insurance policy covering the next 24 months. 5 Purchased office supplies for $880 cash. 20 Received $3,331 cash in photography fees earned. 31 Paid $675 cash for August utilities. Date General Journal Debit Credit Aug. 1 Cash 6,500 Photography Equipment 33,500 Madison Harris, Capital 40,000 2 Prepaid Insurance 2,100 Cash 2,100 5 Office Supplies 880 Cash 880 20 Cash 3,331 Photography Fees Earned 3,331 31 Utilities Expense 675 Cash 675 Exercise 2-4 Preparing general journal entries L.O. A1, P1 Prepare general journal entries for the following transactions of a new business called Pose for Pics. (Omit the "$" sign in your response.) Aug. 1 Madison Harris, the owner, invested $6,500 cash and $33,500 of photography equipment in the business. 2 Paid $2,100 cash for an insurance policy covering the next 24 months. 5 Purchased office supplies for $880 cash. 20 Received $3,331 cash in photography fees earned. 31 Paid $675 cash for August utilities. Date General Journal Debit Credit Aug. 1 Cash 6,500 Photography Equipment 33,500 Madison Harris, Capital 40,000 2 Prepaid Insurance 2,100... View Full Document

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