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Aracel Engineering completed the following transactions in the month of June. a. Jenna Aracel, the owner, invested $175,000 cash, office equipment with a value of $5,800, and $64,000 of drafting equipment to launch the company in exchange for common stock. b. The company purchased land worth $57,000 for an office by paying $8,600 cash and signing a long-term note payable for $48,400 c. The company purchased a portable building with $58,000 cash and moved it onto the land acquired in b. d. The company paid $2,600 cash for the premium on an 18-month insurance policy e. The company completed and delivered a set of plans for a client and collected $6,100 cash. f. The company purchased $32,000 of additional drafting equipment by paying $11,300 cash and signing a long-term note payable for $20,700. 9. The company completed $14,500 of engineering services for a client. This amount is to be received in 30 days. h. The company purchased $1.050 of additional office equipment on credit 1. The company completed engineering services for $27,000 on credit J. The company received a bill for rent of equipment that was used on a recently completed job. The $1.521 rent cost must be paid within 30 days k. The company collected $8,000 cash in partial payment from the client described in transaction L. The company paid $1,500 cash for wages to a drafting assistant m. The company paid $1,050 cash to settle the account payable created in transaction , n. The company paid $1.075 cash for minor maintenance of its drafting equipment. o. The company paid a $9,210 cash dividend. p. The company paid $1700 cash for wages to a drafting assistant 4. The company paid $2,700 cash for advertisements on the Web during June Required: 1. Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106); Prepaid Insurance (108), Office Equipment (163); Drafting Equipment (164), Building (170): Land (172): Accounts Payable (201): Notes Payable (250: Common Stock (307); Dividends (319), Engineering Fees Earned (402): Wages Expense (601), Equipment Rental Expense (602); Advertising Expense (603); and Repairs Expense (604). 2. Post the journal entries from part 1 to the ledger accounts 3. Prepare a trial balance as of the end of June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106); Prepaid Insurance (108): Office Equipment (163); Drafting Equipment (164); Building (170); Land (172); Accounts Payable (201); Notes Payable (250): Common Stock (307); Dividends (319); Engineering Fees Earned (402); Wages Expense (601) Equipment Rental Expense (602): Advertising Expense (603); and Repairs Expense (604). Show less 1. Prepare general journai entries to record these transactions using the following titles: Cash (101): Accounts Receivable (106); Prepaid Insurance (108) Office Equipment (163); Drafting Equipment (164)Building (170); Land (172); Accounts Payable (201); Notes Payable (250): Common Stock (307); Dividends (319); Engineering Fees Earned (402); Wages Expense (601): Equipment Rental Expense (602); Advertising Expense (603); and Repairs Expense (604). 2. Post the journal entries from part 1 to the ledger accounts. 3. Prepare a trial balance as of the end of June Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106); Prepaid Insurance (108), Office Equipment (163); Drafting Equipment (164); Building (170); Land (172), Accounts Payable (201); Notes Payable (250); Common Stock (307); Dividends (319); Engineering Fees Earned (402); Wages Expense (601); Equipment Rental Expense (602); Advertising Expense (603); and Repairs Expense (604). Show less View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 17 Jenna Aracel, the owner, invested $175,000 cash, office equipment with a value of $5,800, and $64,000 of drafting equipment to launch the company in exchange for common stock. Note: Enter debits before credits Debit Account Title Tranasaction Credit Record entry Clear entry View general Journal View transaction list Journal entry worksheet The company purchased land worth $57,000 for an office by paying $8,600 cash and signing a long-term note payable for $48,400. Note: Enter debits before credits. Tranasaction Account Title Debit Credit b Record entry Clear entry View general Journal View transaction list Journal entry worksheet The company paid $2,600 cash for the premium on an 18-month insurance policy Note: Enter debits before credits. Account Title Debit Credit Tranasaction d Record entry Clear entry View general Journal View transaction list Journal entry worksheet The company completed and delivered a set of plans for a client and collected $6,100 cash. Note: Enter debits before credits Tranasaction Account Title Debit Credit e Record entry Clear entry View general journal View transaction list Journal entry worksheet The company purchased $1,050 of additional office equipment on credit. Note: Enter debits before credits. Account Title Debit Credit Tranasaction h Record entry Clear entry View general journal View transaction list Journal entry worksheet 7 8 10 Shy 11 > 12 17 .... The company completed engineering services for $27,000 on credit. Note: Enter debits before credits Debit Account Title Tranasaction Credit Record entry Clear entry View general journal Journal entry worksheet 12 17 .... The company received a bill for rent of equipment that was used on a recently completed job. The $1,521 rent cost must be paid within 30 days. Note: Enter debits before credits. Account Title Debit Credit Tranasaction j Record entry Clear entry View general journal Journal entry worksheet .. The company paid $1,500 cash for wages to a drafting assistant. Note: Enter debits before credits. Tranasaction Account Title Credit Debit View general Journal Clear entry Record entry View transaction list Journal entry worksheet