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Unformatted text preview: Assignment Print View 8/9/10 10:26 AM 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 $675 cash for August utilities. Date General Journal Aug. 1 Cash Photography Equipment Madison Harris, Capital 2 Prepaid Insurance Cash 5 Office Supplies Cash 20 Cash Photography Fees Earned 31 Utilities Expense Cash Debit 6,500 33,500 40,000 2,100 2,100 880 880 3,331 3,331 675 675 Credit Exercise 2-4 Preparing general journal entries L.O. A1, P1 Prepare general journal entries for the following transactions of a new business called Pose for Pics. (Omit the "$" 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 Aug. 1 Cash Photography Equipment Madison Harris, Capital 2 Prepaid Insurance http://ezto.mhhm.mcgraw-hill.com/hm_accounting.tpx?todo=printview Debit 6,500 33,500 Credit 40,000 2,100 Page 2 of 10 ...
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