Aracel Engineering completed the following transactions in the month of June. a. Jenna Aracel, the owner, invested $180,000 cash, office equipment with a value of $5,600, and $67,000 of drafting equipment to launch the company. b. The company purchased land worth $58,000 for an office by paying $10,000 cash and signing a long-term note payable for $48,000. c. The company purchased a portable building with $53,000 cash and moved it onto the land acquired in b. d. The company paid $4,200 cash for the premium on an 18-month insurance policy. 2. The company completed and delivered a set of plans for a client and collected $6,600 cash. f. The company purchased $22,000 of additional drafting equipment by paying $10,600 cash and signing a long-term note payable for $11,400. 3. The company completed $18,500 of engineering services for a client. This amount is to be received in 30 days. n. The company purchased $1,800 of additional office equipment on credit. i. 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 $1,465 rent cost must be paid within 30 days. k. The company collected $8,000 cash in partial payment from the client described in transaction g. 1. The company paid $1,800 cash for wages to a drafting assistant. n. The company paid $1,800 cash to settle the account payable created in transaction h. n. The company paid $1,080 cash for minor maintenance of its drafting equipment. 5. Jenna Aracel withdrew $9,360 cash from the company for personal use. p. The company paid $1,000 cash for wages to a drafting assistant. 7. The company paid $2,900 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); J. Aracel, Capital (301); J. Aracel, Withdrawals (302); 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. 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); J. Aracel, Capital (301); J. Aracel, Withdrawals (302); Engineering Fees Earned (402); Wages Expense (601); Equipment Rental Expense (602); Advertising Expense (603); and Repairs Expense (604). Show less A View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 17 > Jenna Aracel, the owner, invested $180,000 cash, office equipment with a value of $5,600, and $67,000 of drafting equipment to launch the company. Note: Enter debits before credits. Tranasaction Account Title Debit Credit a Record entry Clear entry View general journal Required 1 Required 2 > 101: Cash Debit Credit Transaction 106: Accounts Receivable Balance Transaction Debit Credit Balance 108: Prepaid Insurance Transaction Debit Credit 163: Office Equipment Balance Transaction Debit Credit Balance 164: Drafting Equipment Transaction Debit Credit Balance Transaction 170: Building Debit Credit Balance 172: Land Debit Credit 201: Accounts Payable Balance Transaction Debit Credit Transaction Balance 250: Notes Payable Debit Credit 301: J. Aracel, Capital Balance Transaction Debit Credit Transaction Balance 302: J. Aracel, Withdrawals 402: Engineering Fees Earned Transaction Debit Credit Balance Transaction Debit Credit Balance 601: Wagos Expense Debit Credit Transaction Balance 602: Equipment Rental Expense Transaction Debit Credit Balance 603: Advertising Expense 604: Repairs Expense Transaction Debit Credit Balance Transaction Debit Credit Balance Aracel Engineering completed the following transactions in the month of June. 2. Jenna Aracel, the owner, invested $180,000 cash, office equipment with a value of $5,600, and $67,000 of drafting equipment to launch the company. 5. The company purchased land worth $58,000 for an office by paying $10,000 cash and signing a long-term note payable for $48,000. The company purchased a portable building with $53,000 cash and moved it onto the land acquired in b. 1. The company paid $4,200 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 $6,600 cash. f. The company purchased $22,000 of additional drafting equipment by paying $10,600 cash and signing a long-term note payable for $11,400. 3. The company completed $18,500 of engineering services for a client. This amount is to be received in 30 days. 1. The company purchased $1,800 of additional office equipment on credit. i. 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 $1,465 rent cost must be paid within 30 days. k. The company collected $8,000 cash in partial payment from the client described in transaction g. I. The company paid $1,800 cash for wages to a drafting assistant. n. The company paid $1,800 cash to settle the account payable created in transaction h. 1. The company paid $1,080 cash for minor maintenance of its drafting equipment. 5. Jenna Aracel withdrew $9,360 cash from the company for personal use. 3. The company paid $1,000 cash for wages to a drafting assistant. 7. The company paid $2,900 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); J. Aracel, Capital (301); J. Aracel, Withdrawals (302); Engineering Fees Eamed (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 Required Required 1 2 3 Prepare a trial balance as of the end of June. ARACEL ENGINEERING Trial Balance June 30 Debit Credit Totals S 0 $ 0