Aracel Engineering completed the following transactions in the month of June a. Jenna Aracel, the owner, invested $185,000 cash, office equipment with a value of $8,900, and $68,000 of drafting equipment to launch the company. b. The company purchased land worth $55,000 for an office by paying $9,000 cash and signing a long-term note payable for $46,000 c. The company purchased a portable building with $54,000 cash and moved it onto the land acquired in b d. The company paid $2,300 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 $6,500 cash f. The company purchased $25,000 of additional drafting equipment by paying $11,900 cash and signing a long-term note payable for $13,100 g. The company completed $16,000 of engineering services for a client. This amount is to be received in 30 days. h. The company purchased $1,100 of additional office equipment on credit. 1. The company completed engineering services for $25,000 on credit J. The company received a bill for rent of equipment that was used on a recently completed job. The $1,658 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 $2,200 cash for wages to a drafting assistant m. The company paid $1,100 cash to settle the account payable created in transaction n. The company paid $1,195 cash for minor maintenance of its drafting equipment o. Jenna Aracel withdrew $9,930 cash from the company for personal use. p. The company paid $1,900 cash for wages to a drafting assistant. q. The company paid $4,500 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); 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 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); 1. Aracel, Withdrawals (302); Engineering Fees Earned (402); Wages Expense (601); Equipment Rental Expense (602); Advertising Expense (603); and Repairs Expense (604). Show less A Required 1 Required 2 Required 3 Required 2 Prepare general jour Jo 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); 3. Aracel, Capital (301); 3. Aracel, Withdrawals (302); Engineering Fees Eared (402); Wages Expense (601): Equipment Rental Expense (602); Advertising Expense (603); and Repairs Expense (604). View transaction list Journal entry worksheet 1 3 4 5 6 7 17 Jenna Aracel, the owner, invested $185,000 cash, office equipment with a value of $8,900, and $68,000 of drafting equipment to launch the company. Note: Enter debits before credits Transaction Account Title Debit Credit Record entry Clear entry View general journal Required 1 Required 2 > Show less a Post the journal entries from part 1 to the ledger accounts. 101: Cash Transaction Debit Credit Balance Transaction 106: Accounts Receivable Debit 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 164: Drafting Equipment Debit 170: Building Credit Balance Transaction Debit Credit Balance 172: Land Transaction Debit Credit + 201: Accounts Payable Balance Transaction Debit Credit Balance 250: Notes Payable 301: J. Aracel, Capital Transaction Debit Credit Balance Transaction Debit Credit Balance Transaction 302: J. Aracel. Withdrawals Debit 402: Engineering Fees Earned Credit Balance Transaction Debit Credit Balance 601: Wages Expense Transaction Debit Transaction Credit Balance Transaction 602: Equipment Rental Expense Debit Credit Balance 603: Advertising Expense Debit 604: Repairs Expense Credit Balance Transaction Debit Credit Balance 250: Notes Payable Transaction Debit Transaction 301: J. Aracel, Capital Credit Balance Transaction Debit Credit Balance 302: J. Aracel, Withdrawals Debit Credit Balance Transaction 601: Wages Expense Transaction Debit Credit Balance Transaction Transaction 402: Engineering Fees Earned Debit Credit 602: Equipment Rental Expense Debit Credit Balance Balance 603: Advertising Expense 604: Repairs Expense Debit Credit Balance Transaction Debit Credit Balance 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 < Required 2 Require