The journal entries for the June transactions by Aracel Engineering are as follows:
Journal Entries:
Debit Cash $150,000
Debit Office Equipment $9,700
Debit Drafting Equipment $80,000
Credit Common Stock $239,700
Debit Land $58,000 Csh $7,600
Credit Note Payable $50,400
Debit Building $57,000
Credit Cash $57,000
Debit Prepaid Insurance $2,000
Credit Cash $2,000
Debit Cash $6,200
Credit Service Revenue $6,200
Debit Drafting Equipment $28,000
Credit Cash $11,800
Credit Note Payable $16,200
Debit Accounts Receivable $19,500
Credit Service Revenue $19,500
Debit Office Equipment $1,300
Credit Accounts Payable $1,300
Debit Accounts Receivable $22,000
Credit Service Revenue $22,000
Debit Advertising Expense $1,328
Credit Accounts Payable $1,328
Debit Cash $6,000
Credit Accounts Receivable $6,000
Debit Wages expense $1,700
Credit Cash $1,700
Debit Accounts Payable $1,328
Credit Cash $1,300
Credit Cash Discounts $28
Debit Repairs Expense $955
Credit Cash $955
Debit Dividend $9,670
Credit Cash $9,670
Debit Wages expense $1,300
Credit Cash $1,300
Debit Advertising expense $4,200
Credit Cash $4,200
Transaction Analysis:
Cash $150,000 Office Equipment $9,700 Drafting Equipment $80,000 Common Stock $239,700
Land $58,000 Csh $7,600 Note Payable $50,400
Building $57,000 Cash $57,000
Prepaid Insurance $2,000 Cash $2,000
Cash $6,200 Service Revenue $6,200
Drafting Equipment $28,000 Cash $11,800 Note Payable $16,200
Accounts Receivable $19,500 Service Revenue $19,500
Office Equipment $1,300 Accounts Payable $1,300
Accounts Receivable $22,000 Service Revenue $22,000
Advertising Expense $1,328 Accounts Payable $1,328
Cash $6,000 Accounts Receivable $6,000
Wages expense $1,700 Cash $1,700
Accounts Payable $1,300 Cash $1,300 Cash Discounts $28
Repairs Expense $955 Cash $955
Dividend $9,670 Cash $9,670
Wages expense $1,300 Cash $1,300
Advertising expense $4,200 Cash $4,200
Learn more about journalizing transactions at brainly.com/question/17201601
#SPJ1
Question Completion:
Journalize the transactions
