Problem 2-2A Preparing and posting journal entries; preparing a trial balance LO C3, C4, A1, P1, P2 Aracel Engineering completed the following transactions in the month of June. ..Jenna Aracel, the owner, invested $185,000 cash, office equipment with a value of $8,400, and $67,000 of drafting equipment to launch the company. 5. The company purchased land worth $59,000 for an office by paying $6,400 cash and signing a long-term note payable for $52,600. c. The company purchased a portable building with $52,000 cash and moved it onto the land acquired in 1. The company pold $3,500 cash for the premium on an 18-month insurance policy. 2. The company completed and delivered a set of plans for a client and collected $8,100 cash. f. The company purchased $31,000 of additional drafting equipment by paying $11,700 cash and signing a long-term note payable for $19,300 3. The company completed $13,000 of engineering services for a client. This amount is to be received in 30 days. n. The company purchased $1,550 of additional office equipment on credit. i. The company completed engineering services for $25,000 on credit. J. The company received a bill for rent of equipment that was used on a recently completed job. The $1,347 rent cost must be paid within 30 days. k. The company collected $6,000 cash in partial payment from the client described in transaction g. 1. The company paid $1,500 cash for wages to a drafting assistant. 1. The company paid $1,550 cash to settle the account payable created in transaction h. 1. The company paid $1.045 cash for minor maintenance of its drafting equipment. 5. Jenna Aracel withdrew $9,900 cash from the company for personal use. 9. The company paid $2,500 cash for wages to a drafting assistant 4. The company paid $4,300 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); Prepald Insurance (108); Office Equipment (163); Drafting Equipment (164); Building (170); Land (172): Accounts Payable (201); Notes Payable (250): J. Aracel, Capital (301): J. Aracel, Withdrawals (302); 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a trial balance as of the end of June. ARACEL ENGINEERING Trial Balance June 30 Debit Cash Credit Totals $ $