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 $8,000, and $62,000 of drafting equipment to launch the company.

b. The company purchased land worth $54,000 for an office by paying $6,900 cash and signing a long-term note payable for $47,100.

c. The company purchased a portable building with $58,000 cash and moved it onto the land acquired inb.

d. The company paid $2,900 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 $7,300 cash.

f. The company purchased $35,000 of additional drafting equipment by paying $10,200 cash and signing a long-term note payable for $24,800.

g. The company completed $16,500 of engineering services for a client. This amount is to be received in 30 days.

h. The company purchased $1,150 of additional office equipment on credit.

i. The company completed engineering services for $27,000 on credit.

j. The company received a bill for rent of equipment that was used on a recently completed job. The $1,475 rent cost must be paid within 30 days.

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

l. The company paid $1,200 cash for wages to a drafting assistant.

m. The company paid $1,150 cash to settle the account payable created in transactionh.

n. The company paid $1,165 cash for minor maintenance of its drafting equipment.

o. Jenna Aracel withdrew $9,980 cash from the company for personal use.

p. The company paid $1,100 cash for wages to a drafting assistant.

q. The company paid $3,800 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 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.