Aracel Engineering completed the following transactions in the
month of June.
Please prepare a general journal AND General Ledger that include
account explanations.
a.
Jenna Aracel, the owner, invested $100,000 cash, office
equipment with a value of $5,000, and $60,000 of drafting equipment
to launch the company.
b.
The company purchased land worth $49,000 for an office by paying
$6,300 cash and signing a long-term note payable for $42,700.
c.
The company purchased a portable building with $55,000 cash and...