Problem 2-2A Preparing and posting journal entries; preparing a trial balance C3 C4 A1 P1 P2 Shelton Engineering completed the following transactions in the month of June. a. Shana Shelton, the owner, invested $105,000 cash, office equipment with a value of S6,000, and $45,000 of drafting equipment to launch the company. b. The company purchased land worth $54,000 for an office by paying $5,400 cash and signing a long term note payable for $48,600. c. The company purchased a portable building with $75,000 cash and moved it onto the land acquired in b. d. The company paid $6,000 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 $5,700 cash. f. The company purchased $22,500 of additional drafting equipment by paying $10,500 cash and signing a long-term note payable for $12,000. g. The company completed $12,000 of engineering services for a client. This amount is to be received in 30 days. h. The company purchased $2,250 of additional office equipment on credit. i. The company completed engineering services for $18,000 on credit. 1. The company received a bill for rent of equipment that was used on a recently completed job. The $1,200 rent cost must be paid within 30 days. k. The company collected $7,200 cash in partial payment from the client described in transaction 8. 1. The company paid $1,500 cash for wages to a drafting assistant. m. The company paid $2,250 cash to settle the account payable created in transaction h. n. The company paid $675 cash for minor maintenance of its drafting equipment. o. S. Shelton withdrew $9,360 cash from the company for personal use. p. The company paid $1,500 cash for wages to a drafting assistant q. The company paid $3,000 cash for advertisements in the local newspaper during June. Check (2) Ending balances: Cash, $2.715, Accounts Receivable $22.800; Accounts Payable, $1,200 Required 1. Prepare general journal entries to record these transactions (use the account titles listed in part 2). 2. Open the following ledger accounts-their account numbers are in parentheses (use the balance col umn format): Cash (101); Accounts Receivable (106); Prepaid Insurance (108): Office Equipment (163), Drafting Equipment (164); Building (170); Land (172): Accounts Payable (201); Notes Payable (250); S. Shelton, Capital (301): S. Shelton, Withdrawals (302): Engineering Fees Earned (402): Wages Expense (601); Equipment Rental Expense (602); Advertising Expense (603), and Repairs Expense (604). Post the journal entries from part I to the accounts and enter the balan 3 al balance totals