Aracel Engineering completed the following transactions in the month of June. 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 in exchange for common stock 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 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 completed and delivered a set of plans for a client and collected $6,200 cash f. The company purchased $20,000 of additional drafting equipment by paying $9,500 cash and signing a long-term note payable for $10,500 9. The company completed $14.000 of engineering 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 1. The company completed engineering services for $22.000 on credit. J. The company received a bill for rent of equipment that was used on a recently completed job. The $1.333 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 $1.200 cash for wages to a drafting assistant m. The company paid $1,150 cash to settle the account payable created in transaction h. n. The company paid $925 cash for minor maintenance of its drafting equipment o. The company paid $9.480 cash in dividends. p. The company paid $1,200 cash for wages to a drafting assistant 4. The company paid $2,500 cash for advertisements on the Web during June. 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 Eamed (402); Wages Expense (601), Equipment Rentat 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