Problem 2-2A (Static) Preparing and posting journal entries: preparing a trial balance LO A1, P1 Aracel Engineering completed the followng transactions in the month of June. o. Aracel, the owner, invested $100,000 cash, office equipment 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 $42700. c. The company purchased a portable oulading with $55,000 cash and moved it onto the land acquired in b. d. The company paid $3,000 cash for the premium on on 18mon in insurance pollcy e. The company provided services to a chent and collected $6,200cash t. The compary purchased $20,000 of additional drafung equipment by paying $9,500 cash and signing a note payable for $10,500. 9. The compariy 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. 1. The company completed $22,000 of services for a custorner on credit. 1. 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 cach for employee wages. m. The company poid $1,150 cash to settie the account payable created in transaction n n. The company patd $925 casn for repains o. The company paid a $9,480 cash oivdend. p. The company paid $1,200 cash for employee wages. q. The company paid $2,500 cash for advertisements on the Web dunng June Required: 1. Preparte gerieral journal entries to record these transactions using the following tities. Cash (tov); Accounts Recelvable (106) Prepaid insurance (10B); Office Equipment (163). Drafting Equipment (164), Bulling (170), Land (172); Accounts Payable (201). Notes Payable (250), Common Stock (307). Dividends (319); Services Revenue (403); Wages Expense (60), Advertising Expense (603); and Repairs Expense [604] 2. Post the journal entries from part 1 to the iedget accouns 3. Piepare a that balance as of the end of June Journal entry worksheet 3. Aracel, the owner, invested $100,000 cash, office equipment with a value of $5,000, and $60,000 of drafting equipment to launch the company in exchange for common stock. flotes Enter debits belore credita. 5. Prepare a thai barance as of the eno of June Complete this question by entering vour answers in the tabs below. Prepare a trial balance as of the end of June