Aracel Engineering completed the following transactions in the month of June. a. Jenna Aracel, the owner, invested $245,000 cash, office equipment with a value of $8,800, and $70,000 of drafting equipment to launch the company in exchange for common stock. b. The company purchased land worth $53,000 for an office by paying $7,200 cash and signing a long-term note payable for $45,800. c. The company purchased a portable building with $59,000 cash and moved it onto the land acquired in b. d. The company paid $3,700 cash for the premium on an 18-month insurance policy. e. The company provided services to a client and collected $10,000 cash. f. The company purchased $22,000 of additional drafting equipment by paying $11,200 cash and signing a long-term note payable for $10,800. g. The company completed $13,000 of services for a client. This amount is to be received in 30 days. h. The company purchased $1,550 of additional office equipment on credit. i. The company completed $21,000 of services for a customer on credit. j. The company purchased $1,516 of TV advertising on credit. k. The company collected $7,000 cash in partial payment from the client described in transaction g. I. The company paid $2,100 cash for employee wages. m. The company paid $1,550 cash to settle the account payable created in transaction h. n. The company paid $935 cash for repairs. o. The company paid a $10,130 cash dividend. p. The company paid $2,400 cash for employee wages. q. The company paid $3,600 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. 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); Services Revenue (403); Wages Expense (601); Advertising Expense (603); and Repairs Expense (604). Show less View transaction list Journal entry worksheet 1 2 3 4 56 7 8 17 Jenna Aracel, the owner, invested $245,000 cash, office equipment with a value of $8,800, and $70,000 of drafting equipment to launch the company in exchange for common stock. Note: Enter debits before credits. Tranasaction Account Title Debit Credit a Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Post the journal entries from part 1 to the ledger accounts. 101: Cash Transaction Debit Credit Balance Transaction Debit 106: Accounts Receivable Credit Balance Transaction Transaction 108: Prepaid Insurance Debit Credit Balance Transaction 163: Office Equipment Debit Credit Balance 164: Drafting Equipment 170: Building Debit Credit Balance Transaction Debit Credit Balance Transaction Debit 172: Land 201: Accounts Payable Credit Balance Transaction Debit Credit Balance 250: Notes Payable 307: Common Stock Transaction Debit Credit Balance Transaction Debit Credit Balance 319: Dividends 403: Services Revenue Transaction Debit Credit Balance Transaction Debit Credit Balance 601: Wages Expense Credit Balance Transaction 603: Advertising Expense Debit Credit Balance Transaction Debit 604: Repairs Expense Transaction Debit Credit Balance < Required 1 Required 3 > 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a trial balance as of the end of June. ARACEL ENGINEERING Trial Balance Totals June 30 Debit Credit