Aracel Engineering completed the following transactions in the month of June.

a$.$ J$.$ Aracel, the owner, invested $$245,000$ cash, office equipment with a value of $$9,600,$ and $$71,000$ of drafting equipment to launch the company.

b$.$ The company purchased land worth $$60,000$ for an office by paying $$8,000$ cash and signing a note payable for $$52,000.$

c$.$ The company purchased a portable building with $$59,000$ cash and moved it onto the land acquired in $b.$

d$.$ The company paid $$2,000$ cash for the premium on an $18-$month insurance policy.

e$.$ The company provided services to a client and collected $$7,400$ cash.

f$.$ The company purchased $$22,000$ of additional drafting equipment by paying $$9,800$ cash and signing a note payable for $$12,200.$

g$.$ The company completed $$16,000$ of services for a client. This amount is to be received in $30$ days.

h$.$ The company purchased $$1,050$ of additional office equilipment on credit.

i$.$ The company completed $$21,000$ of services for a customer on credit.

j$.$ The company purchased $$1,570$ of TV advertising on credit.

k$.$ The company collected $$8,000$ 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 $$1,050$ cash to settle the account payable created in transaction $h.$

n$.$ The company paid $$1,130$ cash for repairs.

o$.$ J$.$ Aracel withdrew $$10,540$ cash from the company for personal use.

p$.$ The company paid $$1,600$ cash for employee wages.

q$.$ The company paid $$3,900$ cash for advertisements on the Web during June.

Required:

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 $(604).$

Post the journal entries from part $1$ to the ledger accounts.

Prepare a trial balance as of the end of June.

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