Aracel Engineering completed the following transactions in the month of June. J. Aracel, the owner, invested $240,000 cash, office equipment with a value of $7,700, and $77,000 of drafting equipment to launch the company in exchange for common stock. The company purchased land worth $57,000 for an office by paying $6,900 cash and signing a note payable for $50,100. The company purchased a portable building with $56,000 cash and moved it onto the land acquired in b. The company paid $3,500 cash for the premium on an 18-month insurance policy. The company provided services to a client and collected $8,600 cash. The company purchased $34,000 of additional drafting equipment by paying $10,400 cash and signing a note payable for $23,600. The company completed $19,500 of services for a client. This amount is to be received in 30 days. The company purchased $1,800 of additional office equipment on credit. The company completed $24,000 of services for a customer on credit. The company purchased $1,401 of TV advertising on credit. The company collected $5,000 cash in partial payment from the client described in transaction g. The company paid $1,000 cash for employee wages. The company paid $1,800 cash to settle the account payable created in transaction h. The company paid $1,070 cash for repairs. The company paid a $9,710 cash dividend. The company paid $1,900 cash for employee wages. 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); Services Revenue (403); Wages 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.