Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $12,000 cash and $51,600 of photography equipment in the company in exchange for common stock.
2 The company paid $2,400 cash for an insurance policy covering the next 24 months.
5 The company purchased supplies for $2,280 cash.
20 The company received $2,750 cash from taking photos for customers.
31 The company paid $866 cash for August utilities.
Prepare an August 31 trial balance for Pose-for-Pics.