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 $215,000 cash, office equipment with a value of $9,200, and $78,000 of drafting equipment to launch the company. b. The company purchased land worth $58,000 for an office by paying $8,700 cash and signing a note payable for $49,300. c. The company purchased a portable building with $57,000 cash and moved it onto the land acquired in b. d. The company paid $4,400 cash for the premium on an 18-month insurance policy. e. The company provided services to a client and collected $9,200 cash. f. The company purchased $29,000 of additional drafting equipment by paying $9,300 cash and signing a note payable for $19,700. g. The company completed $18,000 of services for a client. This amount is to be received in 30 days. h. The company purchased $1,100 of additional office equipment on credit. 1. The company completed $30,000 of services for a customer on credit. J. The company purchased $1,672 of TV advertising on credit. k. The company collected $6,000 cash in partial payment from the client described in transaction g 1. The company paid $2,300 cash for employee wages. m. The company paid $1,100 cash to settle the account payable created in transaction h n. The company paid $1,020 cash for repairs. o. J. Aracel withdrew $9,730 cash from the company for personal use. p. The company paid $1,200 cash for employee wages. q. The company paid $4,100 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); J. Aracel, Capital (301); J. Aracel, Withdrawals (302); Services Revenue (403); Wages Expense (601); Advertising Expense (603): Prey 1 of 2 Next > Journal entry worksheet 2 3 4 5 6 7 8 ... 17 J. Aracel, the owner, invested $215,000 cash, office equipment with a value of $9,200, and $78,000 of drafting equipment to launch the company. Note: Enter debits before credits. Tranasaction Account Title Debit Credit Record entry Clear entry View general journal Required 1 Required 2 Required 3 In the tabs below. Post the journal entries from part 1 to the ledger accounts. 101: Cash Transaction Debit Credit Balance Transaction 106: Accounts Receivable Debit Credit Balance < Prev 1 of 2 Next > Transaction Transaction 108: Prepaid Insurance Debit Credit. Balance Transaction 163: Office Equipment Debit Credit Balance 164: Drafting Equipment 170: Building Debit Credit Balance Transaction Debit Credit Balance 172: Land Transaction Debit Credit Balance Transaction 201: Accounts Payable Debit Credit Balance 250: Notes Payable Transaction. Debit Credit Balance Transaction 301: J. Aracel, Capital Debit Credit Balance < Prev 1 of 2 Next > Problems i 250: Notes Payable Transaction Debit Transaction Saved 301: J. Aracel, Capital Credit Balance Transaction. Debit Credit Balance 302: J. Aracel, Withdrawals, 403: Services Revenue Debit Credit Balance Transaction Debit Credit Balance 601: Wages Expense 603: Advertising Expense Credit Balance Transaction Debit Credit Balance Transaction Debit 601: Wages Expense Transaction Debit Transaction Credit Balance Transaction 603: Advertising Expense Debit Credit Balance 604: Repairs Expense Debit Credit Balance < Required 1 Required 3 > Prev 1 of 2 Next > 1 Prepare a trial balance as of the end of June. ARACEL ENGINEERING 1.5 points Skipped eBook Print References Trial Balance June 30 Debit Credit Totals $ 0 $ 0