Problem 2-2A (Algo) Preparing and posting journal entries; preparing a trial balance LO A1, P1 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 $7,800, and $69,000 of drafting equipmem launch the company in exchange for common stock. b. The company purchased land worth $53,000 for an office by paying $9,300 cash and signing a long-term note payable for $43.700. c. The company purchased a portable building with $57,000 cash and moved it onto the land acquired in b. d. The company paid $2,600 cash for the premium on an 18-month insurance policy. e. The company provided services to a client and collected $9,600 cash. f. The company purchased $32,000 of additional drafting equipment by paying $10,200 cash and signing a long-term note paya for $21,800 g. The company completed $18,500 of services for a client. This amount is to be received in 30 days. h. The company purchased $1,600 of additional office equipment on credit. 1. The company completed $24,000 of services for a customer on credit. J. The company purchased $1,508 of TV advertising on credit. k. The company collected $7.000 cash in partial payment from the client described in transaction g. 1. The company paid $2,400 cash for employee wages. m. The company paid $1,600 cash to settle the account payable created in transaction n. n. The company paid $1,000 cash for repairs. o. The company paid a $10,680 cash dividend. p. The company paid $2,000 cash for employee wages. q. The company paid $3,100 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); Prep 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 Repair Expense (604) Det the latrine from the the line Prepare ARACEL ENGINEERING Trial Balance June 30 Debit Credit Cash Totals $ 0 0 $