Aracel Engineering completed the following transactions in the month of June. a. J. Aracel, the owner, invested $225,000 cash, office equipment with a value of $5,800, and $69,000 of drafting equipment to launch the company. b. The company purchased land worth $50,000 for an office by paying $7,900 cash and signing a note payable for $42,100. C. The company purchased a portable building with $53,000 cash and moved it onto the land acquired in b. d. The company paid $3,900 cash for the premium on an 18-month insurance policy. e. The company provided services to a client and collected $8,600 cash. f. The company purchased $31,000 of additional drafting equipment by paying $11,700 cash and signing a note payable for $19,300. g. The company completed $16,000 of services for a client. This amount is to be received in 30 days. h. The company purchased $1,800 of additional office equipment on credit. i. The company completed $24,000 of services for a customer on credit. j. The company purchased $1,442 of TV advertising on credit. k. The company collected $9,000 cash in partial payment from the client described in transaction g. 1. The company paid $1,100 cash for employee wages. m. The company paid $1,800 cash to settle the account payable created in transaction h. n. The company paid $1,015 cash for repairs. o. J. Aracel withdrew $10,360 cash from the company for personal use. p. The company paid $1,700 cash for employee wages. q. The company paid $4,400 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 Prev 1 of 2 Next > Check Transaction Balance Transaction 106: Accounts Receivable Debit Credit Balance d 101: Cash Debit Credit 225,000 7,900 53,000 3,900 8,600 11,700 9,000 1.100 225,000 217,100 164,100 160,200 168,800 157.100 166,100 165,000 163,200 162,185 151,825 150,125 145,725 m 1,800 in O P 1,015 10,360 1,700 4,400 9. Ta Check my Transaction 108: Prepaid Insurance Debit Credit 3,900 d Balance 3,900 Transaction 163: Office Equipment Debit Credit 1.800 5.800 h Balance 1.800 7,600 a Transaction 164: Drafting Equipment Debit Credit 31,000 69,000 Transaction Balance 31,000 700,000 170: Building Debit Credit 53.000 c Balance 57000 Prev 1 of 2 Next > Transaction 172: Land Debit Credit 50,000 Transaction Balance 50,000 201: Accounts Payable Debit Credit 1,800 Balance (1.800) m Transaction Transaction 250: Notes Payable Debit Credit 42,100 19,300 Balance 42,100 61,400 301:J. Aracel, Capital Debit Credit 225.000 Balance 225.000 a 302: J. Aracel, Withdrawala 403: Senvlees Revenue Prey 1 of 2 !!! Next > Check my werk Transaction 302: J. Aracel, Withdrawals Debit Credit 10,360 Balance 10.360 0 401: Services Revenge Debit Transaction Credit 24000 16 000 Balance 24.000 9 Transaction 601: Wages Expense Debit Credit 1,700 1.100 Transaction 603: Advertising Expense Debit Credit Balance 1,700 2,800 19 4400 100 604. Real Expense 1?_con=cond Saved Transaction 604: Repairs Expense Debit Credit 1,015 Balance n. 1,015