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Prepare journal entries to record the August transactions

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Question - Prepare journal entries to record the following August 2017 transactions of a new business called The Pixel Shop.

(If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Aug. 1 Joseph Eetok, the owner, invested $25,000 cash and photography equipment with a fair value of $37,000.

Aug 1 Rented a studio, paying $10,500 for the next three months in advance.

Aug 5 Purchased office supplies for $1,550 cash.

Aug 20 Received $8,950 in photography revenue.

Aug 31 Paid $1,350 for August utilities.

Reference no: EM132890462

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