Answer and Explanation:
The Journal entries are shown below:-
On Aug 1
Cash Dr, $5,250
Photography equipment Dr, 22,575
To Common stock 27,825
(Being the exchange of common stock is recorded)
On Aug 2
Prepaid insurance Dr, $2,300
To Cash $2,300
(Being cash paid is recorded)
On Aug 5
Office supplies Dr, $998
To Cash $998
(Being cash paid is recorded)
Aug 20
Cash Dr, $3,000
To Photography fees earned $3,000
(Being cash received is recorded)
On Aug 31
Utilities expense Dr, $886
To Cash $886
(Being cash paid is recorded)