pply: Summative Assessment (due Day... Saved Help Save & Exit Submit Lewis Engineering completed the following transactions in the month of June. Using the following transactions, record journal entries, create financial statements, and assess the impact of each transaction on the financial statements. Jun. Jun. Jun. Jun. Jun. Jun. Jun. Jun. 1 Sharon Lewis, the owner, invested $142,000 cash, office equipment with a value of $15,500, and $81,000 of drafting equipment to launch the company. 2. The company purchased land worth $59,500 for an office by paying $21,000 cash and signing a long-term note payable for $38,500. 3 The company purchased a portable building with $44,500 cash and moved it onto the land acquired on June 2. 4 The company paid $9,300 cash for the premium on an 18-month insurance policy. 5 The company completed and delivered a set of plans for a client and collected $14,600 cash. 6 The company purchased $32,600 of additional drafting equipment by paying $20,000 cash and signing a long-term note payable for $12,600. 7 The company completed $30,800 of engineering services for a client. This amount is to be received in 30 days. 8 The company purchased $2,200 of additional office equipment on credit. Jun. 9 The company completed engineering services for $26,200 on credit. Jun. 10 The company received a bill for rent of equipment that was used on a recently completed job. The $2,350 rent cost must be paid within 30 days. Jun. 12 The company collected $15,400 cash in partial payment from the client billed on June 9. Jun. 14 The company paid $1,800 cash for wages to a drafting assistant. Jun. 17 The company paid $2,200 cash to settle the account payable created in on June 8. Jun. 20 The company paid $1,450 cash for minor maintenance of its drafting equipment. Jun. 23 Sharon Lewis withdrew $9,900 cash from the company for personal use. Jun. 28 The company paid $1,800 cash for wages to a drafting assistant. Jun. 29 The company paid $3,340 cash for advertisements on the web during June.. Requirement General Journal General Ledger Trial Balance Income Statement St Owners Equity Balance Sheet Impact on Equity Every journal entry must keep the accounting equation in balance. Prepare the journal entries for each of the transactions, entering the debits before the credits. Each transaction is automatically posted to the General Ledger and the Trial Balance as soon as you click "Record Entry". Prev 1 of 2 Next > Show less A