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1 Madison Harris, the owner, invested $12,500 cash and $53,750 of photography equipment in the company. 2 The company paid $2Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $12,500 cash

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--Journal entries

Date General Journal Debit Credit
01-Aug Cash $12,500
Equipment $53,750
   Madison Harris, Capital $66,250
02-Aug Prepaid Insurance $2,100
   Cash $2,100
05-Aug Office Supplies $2,375
   Cash $2,375
20-Aug Cash $3,500
Fees earned $3,500
31-Aug Utilities expense $870
   Cash $870
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