Problem $2-2$A $($Algo$)$ Preparing and posting journal entries; preparing a trial balance LO A$1,$ P$1$Aracel Engineering completed the following transactions in the month of June.a$.$ J$.$ Aracel, the owner, invested $$185,000$ cash, office equipment with a value of $$8,100,$ and $$65,000$ of drafting equipment to launch the company in exchange for common stock.b$.$ The company purchased land worth $$56,000$ for an office by paying $$9,800$ cash and signing a note payable for $$46,200.$c$.$ The company purchased a portable building with $$55,000$ cash and moved it onto the land acquired in b$.$d$.$ The company paid $$3,100$ cash for the premium on an $18-$month insurance policy.e$.$ The company provided services to a client and collected $$7,900$ cash.The company purchased $$29,000$ of additional drafting equipment by paying $$10,300$ cash and signing a note payable for $$18,700.$f$.$ g$.$ The company completed $$15,000$ of services for a client. This amount is to be received in $30$ days.h$.$ The company purchased $$1,450$ of additional office equipment on credit.i$.$ The company completed $$20,000$ of services for a customer on credit.j$.$ The company purchased $$1,545$ of TV advertising on credit.k$.$ The company collected $$5,000$ cash in partial payment from the client described in transaction g$.$I. The company paid $$1,600$ cash for employee wages.m$.$ The company paid $$1,450$ cash to settle the account payable created in transaction h$.$n$.$ The company paid $$1,055$ cash for repairs.o$.$ The company paid a $$9,100$ kash dividend.p$.$ The company paid $$1,000$ cash for employee wages.q$.$ The company paid $$3,100$ cash for advertisements on the Web during June.