Check my work Aracel Engineering completed the following transactions in the month of June. a. Jenna Aracel, the owner, Invested $175,000 cash, office equipment with a value of $5,500, and $61,000 of drafting equipment to launch the company in exchange for common stock b. The company purchased land worth $56,000 for an office by paying $9,000 cash and signing a long-term note payable for $47,000. c. The company purchased a portable building with $59,000 cash and moved it onto the land acquired in b d. The company paid $4,100 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 $8,900 cash f. The company purchased $21,000 of additional drafting equipment by paying $10,600 cash and signing a long-term note payable for $10,400. g. The company completed $15,500 of engineering services for a client. This amount is to be received in 30 days. h. The company purchased $1,950 of additional office equlpment on credit L. The company completed engineering services for $24,000 on credit J. The company received a bill for rent of equipment that was used on a recently completed job. The $1,462 rent cost must be paid within 30 days k. The company collected $9,000 cash in partial payment from the client described in transaction g L. The company paid $1,300 cash for wages to a drafting assistant m. The company paid $1,950 cash to settle the account payable created in transaction h n. The company paid $1,120 cash for minor maintenance of its drafting equipment. o. The company pald a $10,370 cash dividend p. The company paid $1,800 cash for wages to a drafting assistant q. The company paid $2,800 cash for advertisements on the Web during June. ook rint rences Check my w Required: 1. Prepare general journal entrles 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); 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. ts eBook Complete this question by entering your answers in the tabs below. Print eferences Required 1 Required 2 Required 3 Post the journal entries from part 1 to the ledger accounts. 101: Cash 106: Accounts Receivable Transaction Credit Debit Balance Transaction Debit Credit Balance 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); Engineering Fees Earned (402); Wages Expense (601); Equipment Rental Expense (602); Advertising Expense (603); and Repairs Expense (604). Show less A View transaction list View Journal entry worksheet ces Tranasaction No Account Title Debit Credit 1 Cash 175,000 Office equipment 5,500 Drafting equipment 61,000 Common stock 61,000 Required 2
