Problem 2-2A (Algo) Preparing and posting Journal entries; preparing a trial balance LO A1, P1 Aracal Engineering completed the following transactions in the month of Juno a. Arace the owner invested $185.000 cash, office equipment with a value of $7,300 and $64,000 of drafting equipment to launch The company purchased tand worth $58,000 for an office by paying $9.200 cash and signing a note payable for $48,800 The company purchased a portable building with $56.000 cash and moved it onto the land acquired in b d. The company paid $2.900 cash for the premium on an 18-month insurance policy e. The company provided services to a client and collected $9,800 cash t. The company purchased $24,000 of additional drafting equipment by paying $10,400 cash and signing a note payable for $13.600 9. The company completed $18,000 of services for a client. This amount is to be received in 30 days. The company purchased $1450 of additional office equipment on credit The company completed $27,000 of services for a customer on credit J. The company purchased $1431 of TV advertising on credit The company collected $7,000 cash in partial payment from the client described in transaction 9. L The company pald $1700 cash for employee wages. m. The company paid $1,450 cash to settle the account payable created in transaction n. n. The company paid $u20 cash for repairs The company paid a $10,220 cash dividend p. The company paid $2,000 cash for employee wages The company pad $3,700 cash for advertisements on the Web during June Required: 1. Prepare general journal entries to record these transactions using the following titles: Cash on Accounts Receivable (106); Prepaid Insurance (108) Office Equipment (163); Drafting Equipment (1645 Building (170Land (172): Accounts Payable (201)Notes Payablo (250g 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 trtal balance as of the end of June. 7 Topare a trial parance as or me end of June. Coreplater this question loy enter you arewers in the tabs below. Required Required 2 required Insurance (108), Office Equipment (163). Drafting Equipment (164): Building (170). Land (172): Accounts Payable (201): Notes Payable Prepare general journal entries to record these transactions using the following titlest Cash (101). Accounts Receivable (106)Prepaid (250). Common Stock (307); Dividends (319), Services Revenue (103); Wages Expense (601): Advertising Expense (603)) and Repairs Expense (604) Sherless View transactions Journal entry worksheet 3 17 J. Aracel, the owner, invested $185,000 cash, office equipment with a value of 57,300, and $64,000 of drafting equipment to launch the company in exchange for common stock Transaction Account Title Debit Credit Record entry Clear entry View journal Required RM 2 Roureda Pou the journal entries from part 1 to the ledger acourts Tratton 108 Pald ingurno Date Crack Ellano Transaction 12. Ooo Eget De Croat Blog Transaction 164 Orarling Equipment Debit Credit Banos Trancation 170: Bunting Debel Credit Belo Transaction 172: Land Debit Croce Balance Transaction 20t: Accounts Payable Debatt Credit Bisno Transaction 250: Notes Payable Dabit Creat Balance Transaction 2017: Oommon tok Debit Credit Balance 17 LATI Dall C 201: Au Payabi Detail Crott calon Erandio Tranziani Balance 200: Not Payable Dabi Credit Tricodon 307. Common Stook Debil Credit Balance Trancantion Balanco 310: Dividende Debit Credit Trentation Balando Transaction 403: Barvions Ravanud Debit Credit Balanoa 801: Wagac Expanca Dabit Credit Trencaction 808: Advertising Expanca Debit Credit Balance Transaction Baland 804: Roparc Expenco Debit Credit Transaction Balanda