Hello I need help with the following questionss Connect xC F

Hello, I need help with the following questions(s):

Connect xC Fallowing Are The Transa X ? ? ??Secure l https://newconnect.mheducation.com/flow/connect.html Exam 1 Help Save & Exlt Submlt Saved QS 1-14 ldentifying assets, liabilities, and equity LO P2 14 Identify each of the following items as assets, labilities, or equity from the drop down provided. Connect x?e FollowingAre The Transex C Secure https:f/newconnect.mheducation.comflow/connect.html Exam 1 Saved Help Save & Exlt Submlt Exercise 2-7 Preparing general journal entries LO P1 18 Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $15,808 cash and $64,588 of photography equipment in the company in exchange for 10 points ccmmon stock 2 The ccmpany paid $3,288 cash for an insurance pollcy covering the next 24 manths. 5 The ccmpany purchased office supplies for $2,858 cash 2e The company received $2,15 cash in photography fees earned 0100:30 31 The company paid $883 cash for August utilities Prepare general journal entries for the above transactions View transaction list

Solution

Date General Journal Debit Credit Aug. 1 Cash $15,000 Photography equipment $64,500 Common stock $79,500 Aug. 2 Prepaid insurance $3,200 Cash $3,200 Aug. 5 Office supplies $2,850 Cash $2,850 Aug. 20 Cash $2,150 Photography fees earned $2,150 Aug. 31 Utilities expense $883 Cash $883