Aracel Engineering completed the following transactions in the month of June. a. Jenna Aracel, the owner, invested $170,000 cash, office equipment with a value of $7,500, and $72,000 of drafting equipment to launch the company in exchange for common stock. b. The company purchased land worth $57,000 for an office by paying $9,000 cash and signing a long-term note payable for $48,000. c. The company purchased a portable building with $58,000 cash and moved it onto the land acquired in b. d. The company paid $4,400 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 $8,600 cash. f. The company purchased $23,000 of additional drafting equipment by paying $9,600 cash and signing a long-term note payable for $13,400. g. The company completed $13,500 of engineering services for a client. This amount is to be received in 30 days. h. The company purchased $1,050 of additional office equipment on credit. i. The company completed engineering services for $23,000 on credit. j. The company received a bill for rent of equipment that was used on a recently completed job. The $1,635 rent cost must be paid within 30 days. k. The company collected $9,000 cash in partial payment from the client described in transaction g. l. The company paid $1,500 cash for wages to a drafting assistant. m. The company paid $1,050 cash to settle the account payable created in transaction h. n. The company paid $1,125 cash for minor maintenance of its drafting equipment. o. The company paid $9,450 cash in dividends. p. The company paid $2,400 cash for wages to a drafting assistant. q. The company paid $3,500 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 Earned (402); Wages Expense (601); Equipment Rental Expense (602); Advertising Expense (603); and Repairs Expense (604). Open the ledger accounts for the account titles referred in part 1 and post the journal entries from part 1 to the ledger accounts. (Do not skip lines, Enter transactions in chronological order.) 3. Prepare a trial balance as of the end of June.