2 - Homework Saved Help Aracel Engineering completed the following transactions in the month of June. 01.01:34 a. Jenna Aracel, the owner, invested $235,000 cash, office equipment with a value of $5,800, and $79,000 of drafting equipment to launch the company in exchange for common stock b. The company purchased land worth $51,000 for an office by paying $7.900 cash and signing a long-term note payable for $43,100. C. The company purchased a portable building with $55,000 cash and moved it onto the land acquired in b. d. The company paid $3,500 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 $7.700 cash f. The company purchased $27,000 of additional drafting equipment by paying $10,400 cash and signing a long-term note payable for $16,600. g. The company completed $16,000 of engineering services for a client. This amount is to be received in 30 days. h. The company purchased $1,400 of additional office equipment on credit. 1. The company completed engineering services for $27,000 on credit. J. The company received a bill for rent of equipment that was used on a recently completed job. The $1,594 rent cost must be paid within 30 days. k. The company collected $7,000 cash in partial payment from the client described in transaction g. 1. The company paid $2,300 cash for wages to a drafting assistant m. The company paid $1,400 cash to settle the account payable created in transaction h. n. The company paid $1,170 cash for minor maintenance of its drafting equipment. o. The company paid a $10,000 cash dividend. p. The company paid $1,200 cash for wages to a drafting assistant. 4. The company paid $2,700 cash for advertisements on the Web during June. eBook References Required: 1. Prepare general Journal entries to record these transactions using the following titles: Cash (101): Accounts Receivable (106): Prepaid Insurance (108) Office Equipment (163) Drafting Equipment (164); Building (170): Land (172): Accounts Payable (201): Notes Payable (250): Common Stock (307), Dividends (319), Engineering Fees Earned (402) Wages Expense (601): Equipment Rental Expense (602) Advertising Expense (603), and Repairs Expense (604). 2. Post the journal entries from part 1 to the ledger accounts 3. Prepare a trial balance as of the end of June