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. J. Aracel, the owner, invested $245,000 cash, office equipment with a value of $6,500, and $68,000 of drafting equipment to launch the company. b. The company purchased land worth $51,000 for an office by paying $7,100 cash and signing a note payable for $43,900. c. The company purchased a portable building with $59,000 cash and moved it onto the land acquired in b. d. The company paid $4,200 cash for the premium on an 18-month insurance policy. e. The company provided services to a client and collected $6,200 cash. f. The company purchased $27,000 of additional drafting equipment by paying $10,900 cash and signing a note payable for $16,100. g. The company completed $15,000 of services for a client. This amount is to be received in 30 days. h. The company purchased $1,800 of additional office equipment on credit. i. The company completed $23,000 of services for a customer on credit. j. The company purchased $1,547 of TV advertising on credit. k. The company collected $7,000 cash in partial payment from the client described in transaction g. l. The company paid $1,700 cash for employee wages. m. The company paid $1,800 cash to settle the account payable created in transaction h. n. The company paid $965 cash for repairs. o. J. Aracel withdrew $9,960 cash from the company for personal use. p. The company paid $2,300 cash for employee wages. q. The company paid $2,700 cash for advertisements on the Web during June. Post the journal entries from part 1 to the ledger accounts. \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ 108: Prepaid Insurance } & \multicolumn{4}{|c|}{ 163: Office Equipment } \\ \hline Transaction & Debit & Credit & Balance & Transaction & Debit & Credit & Balance \\ \hline \\ \hline \\ \hline \\ \hline & \multicolumn{3}{|c|}{+} & & & & \\ \hline \multicolumn{4}{|c|}{ 164: Drafting Equipment } & \multicolumn{4}{|c|}{ 170: Building } \\ \hline Transaction & Dobit & Credit & Balance & Transaction & Dobit & Crodit & Balance \\ \hline \\ \hline \\ \hline \\ \hline \multicolumn{8}{|c|}{1} \\ \hline \multicolumn{4}{|c|}{ 172: Land } & \multicolumn{4}{|c|}{ 201: Accounts Payable } \\ \hline Transaction & Debit & Credit & Balance & Transaction & Debit & Credit & Balance \\ \hline & & & & & & & \\ \hline 3 & & & & & & & \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline Transaction & Debit & Credit & Balance \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular}