Aracel Engineering completed the following transactions in the month of June.

1. Jenna Aracel, the owner, invested $230,000 cash, office equipment with a value of $6,900, and $70,000 of drafting equipment to launch the company in exchange for common stock.
2. The company purchased land worth $58,000 for an office by paying $8,100 cash and signing a long-term note payable for $49,900.
3. The company purchased a portable building with $55,000 cash and moved it onto the land acquired in b.
4. The company paid $2,400 cash for the premium on an 18-month insurance policy.
5. The company completed and delivered a set of plans for a client and collected $6,800 cash.
6. The company purchased $33,000 of additional drafting equipment by paying $12,000 cash and signing a long-term note payable for $21,000.
7. The company completed $14,500 of engineering services for a client. This amount is to be received in 30 days.
8. The company purchased $1,500 of additional office equipment on credit.
9. The company completed engineering services for $25,000 on credit.
10. The company received a bill for rent of equipment that was used on a recently completed job. The $1,510 rent cost must be paid within 30 days.
11. The company collected $8,000 cash in partial payment from the client described in transaction g.
12. The company paid $2,500 cash for wages to a drafting assistant.
13. The company paid $1,500 cash to settle the account payable created in transaction h.
14. The company paid $1,005 cash for minor maintenance of its drafting equipment.
15. The company paid a $9,270 cash dividend.
16. The company paid $1,400 cash for wages to a drafting assistant.
17. 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); 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.

Post the journal entries from part 1 to the ledger accounts.

101: Cash					106: Accounts Receivable
Transaction	Debit	Credit	Balance		Transaction	Debit	Credit	Balance
108: Prepaid Insurance					163: Office Equipment
Transaction	Debit	Credit	Balance		Transaction	Debit	Credit	Balance
164: Drafting Equipment					170: Building
Transaction	Debit	Credit	Balance		Transaction	Debit	Credit	Balance

Prepare a trial balance as of the end of June.

ARACEL ENGINEERING
Trial Balance
June 30
	Debit	Credit
Cash
Accounts receivable
Prepaid insurance
Office equipment
Drafting equipment
Building
Land
Accounts payable
Notes payable
Common stock
Dividends
Engineering fees earned
Wages expense
Equipment rental expense
Advertising expense
Repairs expense
Totals