PROBLEM SET C PROBLEM 4-1C White Engineering completed the following transactions in the month of June 2019. June 1 1 00 10 11 12 13 15 17 18 19 20 24 28 29 30 Required Dan White, the owner, invested $80,000 cash, ofce equipment with a value of $6,500, and $60,000 of drafting equipment to launch the business. Purchased land worth $77,000 for an ofce by paying $20,200 cash and signing a long-term note payable for $56,800 with interest rate 12%. Purchased $1,100 of supplies on credit from Harris Ofce Products. Purchased a portable building with $35,000 cash and moved it onto the land acquired on June 1. Paid $1,500 cash for the premium on a three-year insurance policy. Completed and delivered a set of plans for a client and collected $8,100 cash. Purchased $15,000 of additional drafting equipment for by paying $4,500 cash and signing a long-tenn note payable for $10,500. Completed $30,000 of engineering services for a client. This amount is to be received in 30 days. Purchased $3,950 of additional ofce equipment on credit. Paid $500 cash to Harris Ofce Products in partial payment. Completed engineering services for $12,000 on credit. Received a bill for rent of equipment that was used on a recently completed job. The $1,050 rent cost must be paid within 30 days. Collected $24,000 cash in partial payment from the client described in the transaction on June 10. Paid $2,400 cash wages to a drafting assistant. Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $6,000. Paid $3,950 cash to settle the account payable created in the transaction on June 11. Paid $125 cash for minor repairs to its drafting equipment. Dan White withdrew $1,480 cash for personal use. Paid $2,400 cash wages to a drafting assistant. Paid $3,300 cash for advertisements on the local television station during June. 1. Prepare general journal entries to record these transactions. 2. Open the following ledger accountstheir account numbers are in parentheses (use the balance column format): Cash (101); Accounts Receivable (106); Suuplies (107); Prepaid Insurance (108); Ofce Equipment (163); Accumulated DpreciationOfce Equipment (164); Drafting Equipment (165); Accumulated DpreciationDrafting Equipment (166); Building (170); Accumulated DpreciationBuilding (171); Land (172); Accounts Payable (201); Interest Payable (202); Notes Payable (250); Unearned Fees (260); Dan White, Capital (301); Dan White, Drawing (302); Engineering Fees Earned (402); Wages Expense (501); Rental Expense (502); Advertising Expense (503); Supplies Expense (504); Interest Expense (505); Depreciation Expense (506) and Repairs Expense (507). Post the journal entries from part 1 to the accounts and enter the balance after each posting. 5 October 2019 (Revised)