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

J. Aracel, the owner, invested $245,000 cash, office equipment with a value of $5,500, and $78,000 of drafting equipment to launch the company in exchange for common stock.

The company purchased land worth $56,000 for an office by paying $9,700 cash and signing a note payable for $46,300.

The company purchased a portable building with $53,000 cash and moved it onto the land acquired in b.

The company paid $3,300 cash for the premium on an 18-month insurance policy.

The company provided services to a client and collected $7,000 cash.

The company purchased $32,000 of additional drafting equipment by paying $10,100 cash and signing a note payable for $21,900.

The company completed $20,000 of services for a client. This amount is to be received in 30 days.

The company purchased $1,950 of additional office equipment on credit.

The company completed $29,000 of services for a customer on credit.

The company purchased $1,460 of TV advertising on credit.

The company collected $8,000 cash in partial payment from the client described in transaction g.

The company paid $1,200 cash for employee wages.

The company paid $1,950 cash to settle the account payable created in transaction h.

The company paid $1,155 cash for repairs.

The company paid a $10,460 cash dividend.

The company paid $1,500 cash for employee wages.

The company paid $3,500 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); Services Revenue (403); Wages Expense (601); 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.

Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable Insurance (108); Office Equipment (163); Drafting Equipment (164); Building (170); Land (172); Accounts Payable (201 (250); Common Stock (307); Dividends (319); Services Revenue (403); Wages Expense (601); Advertising Expense (60 Expense (604). Journal entry worksheet J. Aracel, the owner, invested $245,000 cash, office equipment with a value of $5,500, and $78,000 of drafting equipment to launch the company in exchange for common stock. Note: Enter debits before credits. Poat the joumal entries from part 1 to the iedger accrunts. Prepare a trial balance as of the end of June