Prepare general journal entries to record these transactions using the following titles: Cash $(101)$; Accounts Receivable $(106)$; Prepaid Expense $(604).$ Extock $(307)$; Dividends $(319)$; Services Revenue $(403)$; Wages Expense $(601)$; Advertising Expense $(603)$; and Repairs Show leass

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Journal entry worksheet

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Jenna Aracel, the owner, inveated $$240,000$ cash, office equipment with a in exchange for common stock.

Noce: Enter debits before credits.

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$1$

Complete this question by entering your answers in the tabs below.

fosuired $1$ Ansuarsa $3$

Poat the jouma entries from part $1$ to the ledger aconunts.

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Complete this question by entering your answers in the tabs below.

Prepare a trial balance as of the end of June.Aracel Engineering completed the following transactions in the month of June.

a$.$ Jenna Aracel, the owner, invested $$240,000$ cash, office equipment with a value of $$10,000,$ and $$68,000$ of drafting equipment to launch the company in exchange for common stock.

b$.$ The company purchased land worth $$51,000$ for an office by paying $$6,000$ cash and signing a long$-$term note payable for $$45,000.$

c$.$The company purchased a portable building with $$53,000$ cash and moved it onto the land acquired in b$.$

d$.$The company paid $$4,300$ cash for the premium on an $18-$month insurance policy.

e$.$The company provided services to a client and collected $$7,500$ cash.

f$.$The company purchased $$22,000$ of additional drafting equipment by paying $$9,500$ cash and signing a long$-$term note payable for $$12,500.$

g$.$The company completed $$18,000$ of services for a client. This amount is to be received in $30$ days.

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

i$.$The company completed $$23,000$ of services for a customer on credit.

j$.$The company purchased $$1,527$ of TV advertising on credit.

k$.$The company collected $$8,000$ cash in partial payment from the client described in transaction g$.$

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

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

n$.$The company paid $$900$ cash for repairs.

o$.$The company paid a $$9,490$ cash dividend.

p$.$The company paid $$2,500$ cash for employee wages.

q$.$ The company paid $$3,400$ cash for advertisements on the Web during June.

$1.$ 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.