Aracel Engineering completed the following transactions in the month of June. ook a. Jenna Aracel, the owner, invested $165,000 cash, office equipment with a value of $6,000, and $71,000 of drafting equipment to launch the company in exchange for common stock b. The company purchased land worth $59,000 for an office by paying $6,200 cash and signing a long-term note payable for $52,800 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 $6,600 cash. . The company purchased $30,000 of additional drafting equipment by paying $10,000 cash and signing a long-term note payable for $20,000 g. The company completed $15,000 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 $1,684 rent cost must be paid within 30 days k. The company collected $8,000 cash in partial payment from the client described in transaction g. 1. The company paid $2,400 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 $975 cash for minor maintenance of its drafting equipment o. The company paid $10,980 cash in dividends. p. The company paid $1,900 cash for wages to a drafting assistant 9. The company paid $3,600 cash for advertisements on the Web during June. onces 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