Aracel Engineering completed the following transactions in the month of June. a. J. Aracel, the owner, invested $200,000 cash, office equipment with a value of $7,300, and $68,000 of drafting equipment to launch the company in exchange for common stock. b. The company purchased land worth $58,000 for an office by paying $6,600 cash and signing a note payable for $51,400. c. The company purchased a portable building with $59,000 cash and moved it onto the land acquired in b. d. The company paid $2,200 cash for the premium on an 18-month insurance policy. e. The company provided services to a client and collected $6,400 cash. f. The company purchased $26,000 of additional drafting equipment by paying $10,300 cash and signing a note payable for $15,700. g. The company completed $14.000 of services for a client. This amount is to be received in 30 days. h. The company purchased $1,650 of additional office equipment on credit. 1. The company completed $27,000 of services for a customer on credit. J. The company purchased $1,643 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 $2,500 cash for employee wages. m. The company paid $1,650 cash to settle the account payable created in transaction h. n. The company paid $1,180 cash for repairs. o. The company paid a $10,010 cash dividend. p. The company paid $2,400 cash for employee wages. q. The company paid $3,500 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), Common Stock (307), Dividends (319), 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 11 Required 2 Required 3 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); Common Stock (307); Dividends (319); Services Revenue (403); Wages Expense (601); Advertising Expense (603); and Repairs Expense (604). Show less A View transaction list Journal entry worksheet