Problem 2-2A (Static) 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 \\( \\$ 100,000 \\) cash, office ctuipment with a value of \\( \\$ 5,000 \\), and \\( \\$ 60,000 \\) of drafting equipment to launch the company in exchange for common stock. b. The company purchased land worth \\( \\$ 49,000 \\) for an office by paying \\( \\$ 6,300 \\) cash and signing a note payable for \\( \\$ 42,700 \\). c. The company purchased a portable building with \\( \\$ 55,000 \\) cash and moved it onto the land acquired in b. d. The company paid \\( \\$ 3,000 \\) 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 \\( \\$ 20,000 \\) of additional drafting equipment by paying \\( \\$ 9,500 \\) cash and signing a note payable for \\( \\$ 10,500 \\). g. The company completed \\( \\$ 14,000 \\) 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 \\( \\$ 22,000 \\) of services for a customer on credit. j. The company purchased \\( \\$ 1,333 \\) 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 \\( \\$ 1,200 \\) cash for employee wages. \\( \\mathrm{m} \\). The company paid \\( \\$ 1,150 \\) cash to settle the account payable created in transaction \\( h \\). \\( \\mathrm{n} \\). The company paid \\( \\$ 925 \\) cash for repairs. o. The company paid a \\( \\$ 9,480 \\) cash dividend. p. The company paid \\( \\$ 1,200 \\) cash for employee woges. q. The company paid \\( \\$ 2,500 \\) 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); Prepoid 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