To launch the company Jenna Aracel the owner invested $210000 cash office equipment with a value of $6500 and $78000 of drafting equipment in exchange for common stock.The company purchased land worth $57000 for an office by paying $8900 cash and sig
To launch the company Jenna Aracel the owner invested $210000 cash office equipment with a value of $6500 and $78000 of drafting equipment in exchange for common stock.The company purchased land worth $57000 for an office by paying $8900 cash and signing a long-term note payable for $48100.The company purchased a portable building with $58000 cash and moved it onto the land acquired in b.The company completed and delivered a set of plans for a client and collected $7000 cash.The company purchased $34000 of additional drafting equipment by paying $9600 cash and signing a long-term note payable for $24400.The company completed $19500 of engineering services for a client. This amount is to be received in 30 days.The company received a bill for rent of equipment that was used on a recently completed job. The $1617 rent cost must be paid within 30 days.Prepare general journal entries to record these transactions.