The company paid $2,200 cash for the premium on an 18-month insurance policy. Note: Enter debits before credits Tranasaction Account Title Debit Credit d The company completed and delivered a set of plans for a client and collected $9,700 cash Note: Enter debits before credits. Tranasaction Account Title Debit Credit The company purchased $34,000 of additional drafting equipment by paying $11,200 cash and signing a long-term note payable for $22,800. Note: Enter debits before credits. Tranasaction Account Title Debit Credit The company completed $19,000 of engineering services for a client. This amount is to be received in 30 days. Note: Enter debits before credits. Tranasaction Account Title Debit Credit The company purchased $1,500 of additional office equipment on credit. Note: Enter debits before credits. Account Title Debit Credit Tranasaction h The company completed engineering services for $21,000 on credit. Note: Enter debits before credits Tranasaction Account Title Debit Credit The company received a bill for rent of equipment that was used on a recently completed job. The $1,467 rent cost must be paid within 30 days. Note: Enter debits before credits Tranasaction Account Title Debit Credit The company collected $6,000 cash in partial payment from the client described in transaction g. Note: Enter debits before credits. Tranasaction Account Title Dobit Credit k The company paid $1,300 cash for wages to a drafting assistant Note: Enter debits before credits. Tranasaction Account Title Debit Credit The company paid $1,500 cash to settle the account payable created in transaction h. Note: Enter debits before credits. Debit Credit Tranasaction Account Title m The company paid $1,005 cash for minor maintenance of its drafting equipment. Note: Enter debits before credits Tranasaction Account Title Debit Credit The company paid $10,770 cash in dividends. Note: Enter debits before credits. Tranasaction Account Title Debit Credit o The company paid $1,300 cash for wages to a drafting assistant. Note: Enter debits before credits. Tranasaction Account Title Debit Credit The company paid $3,300 cash for advertisements on the Web during June. Note: Enter debits before credits Tranasaction Account Title Debit Credit 9 Aracel Engineering completed the following transactions in the month of June. a. Jenna Aracel, the owner, invested $175,000 cash, office equipment with a value of $8,100, and $63,000 of drafting equipment to launch the company in exchange for common stock b. The company purchased land worth $58,000 for an office by paying $8,800 cash and signing a long-term note payable for $49.200 c. The company purchased a portable building with $56,000 cash and moved it onto the land acquired in b. d. The company paid $2,200 cash for the premium on an 18-month insurance policy. e. The company completed and delivered a set of plans for a client and collected $9,700 cash. f. The company purchased $34,000 of additional drafting equipment by paying $11,200 cash and signing a long-term note payable for $22,800 g. The company completed $19,000 of engineering services for a client. This amount is to be received in 30 days. h. The company purchased $1,500 of additional office equipment on credit. 1. The company completed engineering services for $21,000 on credit. J. The company received a bill for rent of equipment that was used on a recently completed job. The $1,467 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. I. The company paid $1,300 cash for wages to a drafting assistant. m. The company paid $1,500 cash to settle the account payable created in transaction h. n. The company paid $1,005 cash for minor maintenance of its drafting equipment o. The company paid $10,770 cash in dividends. p. The company paid $1,300 cash for wages to a drafting assistant. 4. The company paid $3,300 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): Prepaid Insurance (108): Office Equipment (163); Drafting Equipment (164); Building (170); Land (172): Accounts Payable (201): Notes Payable (250): Common Stock (307), Dividends (319): 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
