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

Jenna Aracel, the owner, invested $185,000 cash, office equipment with a value of $6,400, and $77,000 of drafting equipment to launch the company in exchange for common stock.

The company purchased land worth $51,000 for an office by paying $7,900 cash and signing a long-term note payable for $43,100.

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

The company paid $2,200 cash for the premium on an 18-month insurance policy.

The company provided services to a client and collected $8,000 cash.

The company purchased $21,000 of additional drafting equipment by paying $9,800 cash and signing a long-term note payable for $11,200.

The company completed $13,500 of services for a client. This amount is to be received in 30 days.

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

The company completed $29,000 of services for a customer on credit.

The company purchased $1,565 of TV advertising on credit.

The company collected $7,000 cash in partial payment from the client described in transaction g.

The company paid $2,300 cash for employee wages.

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

The company paid $1,040 cash for repairs.

The company paid a $10,810 cash dividend.

The company paid $1,200 cash for employee wages.

The company paid $3,000 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); Common Stock (307); Dividends (319); 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.