[beandip24]

Preparing general journal
Entries

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.

I got to put this as a general journal entries. Help please

[helemuo]

Journal Entries DR CR
Aug1 Cash Ledger 7,500
Photographic Equip. 32,000
Owner Equity 39,500

Aug1 Insurance Expense 3,000
Cash Account 3,000
Aug5 Office Supplies 1,400
Cash 1,400
Aug20 Cash 2,650
Fees(or sales a/c) 2,650
Aug30 Utilities Expense 875
Cash 875

Note: explanation has been omitted

[pready]

Aug 1 first entry your amounts are off for your Eqpt account and OE account.
Second entry:
Debit Prepaid Insurance for the amount
Credit Cash for the amount.

Aug 20.
Debit Cash for the amount received.
Credit Photography Fees Earned.

The other entries look correct.