Aracel Engineering completed the following transactions in the month of June. a. J. Aracel, the owner, invested $160,000 cash, office equipment with a value of $8,900, and $75,000 of drafting equipment to launch the company. b. The company purchased land worth $52.000 for an office by paying $7,700 cash and signing a note payable for $44,300. c. The company purchased a portable building with $60,000 cash and moved it onto the land acquired in b. d. The company paid $3,600 cash for the premium on an 18-month insurance policy. e. The company provided services to a client and collected $9,100 cash. f. The company purchased $26,000 of additional drafting equipment by paying $9.200 cash and signing a note payable for $16.800. g. The company completed $15,500 of services for a client. This amount is to be received in 30 days. h. The company purchased $1,850 of additional office equipment on credit. i. The company completed $24,000 of services for a customer on credit. J. The company purchased $1,548 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 $2,200 cash for employee wages. m. The company paid $1,850 cash to settle the account payable created in transaction n. The company paid $995 cash for repairs. o. J. Aracel withdrew $10,400 cash from the company for personal use. p. The company paid $1,600 cash for employee wages q. The company paid $3,700 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) J. Aracel, Capital (301) J. Aracel, Withdrawals (302), 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 Post the journal entries from part 1 to the ledger accounts. 101: Cash Transaction Debit Credit Balance Transaction 106: Accounts Receivable Debit Credit Balance 108: Prepaid Insurance 163: Office Equipment Transaction Debit Credit Balance Transaction Debit Credit Balance < Prev 2 of 4 Next > 18 2 points eBook Transaction Transaction Prin References Mc Graw Hall 108: Prepaid Insurance Debit Credit Balance Transaction 163: Office Equipment Debit Credit Balance 164: Drafting Equipment Debit Credit Balance Transaction 170: Building Debit Credit Balance 172: Land Transaction Debit Credit Balance Transaction 201: Accounts Payable Debit Credit Balance Transaction 250: Notes Payable Debit Credit Balance Transaction 301: J. Aracel, Capital Debit Credit Balance Transaction 302: J. Aracel, Withdrawals Debit Credit Balance Transaction 403: Services Revenue Debit Credit Balance Transaction 601: Wages Expense Debit. Credit Balance Transaction 603: Advertising Expense Debit Credit Balance Transaction 604: Repairs Expense Debit Credit Balance