Aracel Engineering completed the following transactions in the month of June. a. J. 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 in exchange for common stock. b. The company purchased land worth $49,000 for an office by paying $6,300 cash and signing a note payable for $42,700 c. The company purchased a portable building with $55,000 cash and moved it onto the land acquired in b. d. The company paid $3,000 cash for the premium on an 18 -month insurance policy. e. The company provided services, to a client and collected $6,200 cash. f. The company purchased $20,0 do of additional drafting equipment by paying $9,500 cash and signing a note payable for $10,50 g. The company completed $14,000 of services for a client. This amount is to be received in 30 days h. The company purchased $1,150 of additional office equipment on credit. i. The company completed $22,000 of services for a customer on credit. j. The company purchased $1,333 of TV advertising on credit. k. The company collected $7,000 cash in partial payment from the client described in transaction g I. The company paid $1,200 cash for employee wages. m. The company paid $1,150 cash to settle the account payable created in transaction h. n. The company paid $925 cash for repairs. o. The company paid a $9,480 cash dividend. p. The company paid $1,200 cash for employee wages. q. The company paid $2,500 cash for advertisements on the Web during June. 1. Prepare general journal entries to record these transactions using the following titles: Cash (101): Accounts Recelvable (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); Services Revenue (403); Woges Expense (601); 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